Next to child related issues, the equitable division of marital property, assets and liabilities, is the most commonly disputed issue of a divorce. Who gets the home? Will the family home have to be sold and the profits or loss be divided? Who gets the family vehicle? What if both cars are in one party’s name? What about the investment portfolio. What if one party intentionally drained the checking account before the divorce? What about property, assets or debts were obtained by either party before the marriage? Who is going to pay the bills of the marriage?
There are so many questions that may be asked regarding marital property, assets and debts, in a divorce it can make anyone's head spin. While each divorce that involves marital property and assets which eventually must be divided before the divorce can be finalized it is important to note that the statutory standard in the State of Florida is not "equal division of marital property and assets." The statutory standard is "fair and reasonable distribution often called equitable distribution of marital property, assets and debts." Well that puts us into a lot of gray area left open to interpretation as to what is fair and reasonable.
According the Florida Statutes, the issues that court may consider in marital property, assets, and debt cases includes:
Equitable or Fair and Reasonable is the standard, and therefore, any argument for or against specific marital property, assets and debts, must be made in this context. Sometimes when dealing with marital property, assets and debts,, it may be in your best interest to loose a battle to win a war. When negotiating marital property, asset debt issues, it may in your best interest to give in regarding one issue to come out on top regarding an issue that is actually more important to you.
It is also important that you are aware that the division of marital property while it includes assets also may include debt and liabilities. The debt or liabilities may also play a role in the division of marital property and assets. This may be a good thing or a bad thing. How this debt or liabilities are presented and negotiated in mediation or argued in from of the judge may directly affect the outcome. Having legal counsel in your corner that can present a strong a voice of reason in marital property and asset disputes may be extremely beneficial to your legal needs and goals.
If have questions or need to address legal issues relating to division of marital property, divorce, or other family law needs, seek the legal advice and representation of an aggressive marital property attorney. At Morris Law Firm, P.A., you will work with an experienced lawyer who is dedicated to protecting the legal rights of those in Cape Coral, Fort Myers, Naples, Bonita Springs, Punta Gorda, Port Charlotte, Immokalee, Labelle, Lee County, Collier County, Charlotte County, Hendry County and Southwest Florida.