Property Division Lawyers In Sarasota
Property division is a key issue in the vast majority of divorce cases and it can create a significant impact with regard to the financial security of divorcing spouses. In contrast with community property states, such as California, Florida is an equitable division state. This means that divorcing parties likely will receive a fair or just distribution of marital property. Because the courts are given wide discretion regarding the equitable division of marital property, it’s critical that divorcing spouses consult property division lawyers with an experienced Sarasota family law firm for aggressive protection to their property and interests throughout the process of dissolution of marriage.
How Is Property Divided In A Divorce?
In order to determine the distribution of marital property, the courts consider a wide range of factors, which include the classification and value of the property in question. The courts must initially distinguish marital property from non-marital property. Because Florida is an equitable division state, property classified as marital in nature is often divided equally between divorcing parties, with regard to unique circumstances.
Thereafter, Florida courts award to each party their respective non-marital property, which may include property acquired prior to the marriage. According to family law attorneys, however, non-marital property can retain marital classification in such cases in which one spouse introduces a home into the marriage or if the owning spouse provides the other spouse with partial ownership rights or adds to the title the spouse.
Which Factors Determine How Property Is Divided?
Once the court identifies which property is marital, it will then determine how the property will be distributed between the parties. Family law courts within the State of Florida consider a number of different factors contained within Florida Statute § 61.075, which include the following. Contact us today to speak with a divorce attorney about your case.
- Economic circumstances of each spouse
- Interruptions to either spouse’s career or education
- Contributions to spouses' career or education
- Duration of the marriage
- Contributions to acquiring or increasing income
- Efforts to increase the value of property
- Intentional dissipation, waste, depletion or destruction of marital property following the filing of a divorce petition or within two years of filing for a dissolution of marriage within Florida courts
How To Protect Property During Divorce
It is important to accept the fact that very few people are awarded everything they want in a divorce property settlement. At Tobaygo Law, our attorneys arrive prepared to negotiations with all relevant financial information to support our clients' claims regarding what is fair and what is just in terms of equitable division of marital property. Throughout a divorce, our clients are provided with the cost-benefit information required to adequately distinguish the property that is worth fighting for from the property with reduced emotional value and financial value. Schedule a consultation with our firm today for more information about property division in Florida divorce.