Maitland Property Division Attorney
Property Division in Maitland
Within a dissolution of marriage case one of the most important issues is the distribution of the property of the husband and wife. The state of Florida distributes marital property and liabilities in a fair and equitable manner pursuant to the facts of each individual case. What happens in one particular case may not happen in another.
To discuss the specific facts of your divorce, contact our Maitland property division attorney at The Troum Law Firm, P.A.
Determining Marital & Nonmarital Assets
The first issue that a judge will determine is whether the assets and liabilities are marital or nonmarital in nature. If they are marital, the court will distribute the property or debt in the proceeding. If it is nonmarital, under most circumstances the party who brought the asset or liability into the marriage will continue to receive the property and/or liability.
The issue of marital vs. nonmarital assets or liabilities can become quite complicated. It may require a tracing of the history of the property and how the property was acquired. There are also ways in which property which was brought into the marriage by one party can be transferred into marital property and, therefore, subject to distribution in the dissolution of marriage action. This procedure is used for all types of property including land, stocks, bonds, cash, homes, credit card debts, mortgages, pensions, retirement plans, loans, furniture, as well as others.
Factors for Distributing the Property
Judges look to many factors when distributing the property of the parties. These include the following:
- The contributions to the marriage by each spouse
- The contributions to the care and education of the children
- The economic circumstances of the parties
- The duration of the marriage contributions of one spouse to the personal career or educational opportunity of the other spouse
- The desirability of retaining any asset
- The desirability of retaining the marital home as a residence for any dependent child of the marriage
- Any other factors necessary to do justice between the parties
Contact The Troum Law Firm, P.A. for Individual Legal Attention
Each divorce is individual in nature. Property issues can be complicated and in some cases the results of the litigation can be quite surprising.
Our Maitland property division lawyer can discuss whether the property you and your spouse intend to divide is in fact a part of your marital estate and whether the proposed division is fair based on your specific circumstances.
Call our firm at 321-428-2247 to make an appointment for a consultation.