The division of property between divorced spouses can seem like a tedious process. Within the state of Florida, there are laws in place to make the division of property as easy as possible. Most of the time, any property that is defined as marital property is subject to being divided among spouses. Marital property can include anything from the family home to cars and bank accounts.
The goal with property division is to make it as equal as possible, up to a certain point. When deciding how to split marital property between divorcing spouses, the court will look at a variety of factors.
What is taken into consideration with property division?
The property division process between divorced spouses involves several relevant factors. One of the main things that the court will look at is each person’s contribution to the marriage. This can be defined by financial contributions, care and education of the children, services as homemaker and more.
The court will also look at what each person’s life might look at after the divorce. For example, if a husband worked as a full-time care giver to the children, will he be as financially well-off as the wife who worked at her own company full-time?
Other factors determined over the course of the marriage and looking forward into the future will be taken into consideration. Some of these factors include:
- Duration of the marriage
- Interruption of personal careers or educational opportunities
- Desirability of retaining assets
- Contribution each spouse made to the specific asset or property in question
- Impact on the children
How will property be divided?
Each divorce is different, so there’s no one way to divide property during a divorce. Individuals facing divorce should reach out to a family attorney with any questions about how property will be divided.