Winter Park Equitable Distribution Attorney
Helping You Obtain What You May Deserve
When it comes to splitting assets in a divorce, there are two methods in play, depending on the laws in that state. Some states still use the community property rule, which is essentially a 50/50 split. The other method — which Florida follows — is the theory of equitable distribution. Courts in Florida operate with the belief that the separation of both assets and liabilities should be equal between both parties, no matter what, or who, caused the marriage to fall apart. Just note that there are certain situations where a court judge may deviate from equitable distribution and award a slightly different split.
Our Winter Park equitable distribution attorney can help. At The Troum Law Firm, P.A., our attorney can sit down with you and explain the process while helping you obtain the money and property you deserve. We have years of experience handling property distribution matters, including complex cases involving high-net-worth clients and those with family businesses.
Reasons a Court May Deviate from Equitable Distribution
Because each divorce is different, there could be a number of reasons the court opted to deviate from equitable distribution. Some of these factors may include:
- What was the duration of your marriage?
- What are the contributions of each spouse to the marriage?
- What are the economic circumstances of each spouse?
- What is the desire of each spouse when it comes to retaining assets like a professional practice or business?
- Were there any interruptions to education or personal careers of either spouse?
The Equitable Distribution Process and Marital Property
Before the court can complete the process of equitable distribution, they first have to determine what assets and liabilities are considered marital property and which are considered separate property. Generally speaking, marital property is made up of assets and debts that either spouse acquired during the course of the marriage, no matter who has title to it.
Separate, or nonmarital, property includes any assets or debts that were acquired prior to the marriage, or were acquired through a gift or inheritance to one party, or they are excluded by a valid prenuptial agreement. Once the court makes a determination on what is marital property, a fair value will be assigned to each, and then division can begin.
Contact a Florida Divorce Attorney Who Can Represent Your Best Interests During Negotiations and Court Proceedings
Determining what assets and debts qualify as marital property versus separate property can be complex in many Florida divorces. Determining a specific value for each item can also make the process more contentious. This can result in both sides spending a lot of time and money battling out the financial aspects of their divorce. This is why you need a Florida divorce attorney on your side.
Our Winter Park equitable distribution attorney has more than 30 years of experience in this area. We are happy to sit down with you and learn more about your particular situation so we can determine the best course of action. We will also tell you what your likelihood of success is and ensure you have the best representation during negotiations and/or court proceedings. Contact The Troum Law Firm, P.A. today at 321-428-2247 to schedule a consultation.