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Thompson Family Law, P.A.
Toll Free: 888-550-6071
Local: 239-243-9297

Property Division Archives

Your property is yours alone in a divorce

Property division in Florida is well discussed among the state's statutes. Chapter 61 of the Florida statutes discusses the particulars of this subject. One of the things that comes up early is that all assets that each party owned prior to the marriage will be returned to that person.

Dividing property in Florida divorce and how it is done

Getting a divorce can be extremely stressful. Dividing up property and assets can be even more stressful. As a matter of fact, this alone can make people stay in a bad marriage. There is some good news: If you or your spouse own a company, the divorce process doesn't have to be so painful.

Property division in Florida involves the court system

When you get a divorce, there will be a division of marital property. In Florida, this property division is governed by the statutes of this state. For instance, the property will be as equitably distributed as possible, according to the court. Not only the assets but the liabilities, or debts, will also be distributed. There may be extenuating circumstances when the court looks at the assets and debts.

Attorney needed in southwest Florida property division in divorce

Getting a divorce means that there will be property division. The assets and debts of the marriage will need to be split up. Sometimes, the two people involved will get together and make the split easy by deciding ahead of time what each one will get. This makes it easy for the judge.

What is the definition of a qualified domestic relations order?

A qualified domestic relations order, or QDRO, is a domestic order from the court that allows for the existence of an alternate payee, or person receiving a payment, who has the right to receive payments from a retirement plan after certain information is shared and requirements are met.

Florida artists' work is an asset in divorces

Before filing for divorce, Florida artists should be aware that their artwork is usually considered an asset in divorce proceedings. Works created before a marriage or after separation or divorce are usually not considered as part of the marital assets, although proceeds from such works may be included in the value of the marital estate if they were sold during the marriage and/or provided a substantial amount of domestic income.

How divorce may affect the credit of the parties

The interaction of credit and the maintenance of credit ratings can be substantially more complex inside a marriage. It is common for married couples in Florida to set up joint accounts with some lenders, and the liability for these accounts will often stay with the couple after they get a divorce. It may be wise to carefully review all financial arrangements and structure the divorce settlement properly, or serious impact to the credit rating and unfair liability for debt may result.

Law spells out how property should be split in divorce

Florida residents contemplating a divorce may be interested to know that state law is very specific when it comes to dividing property when a marriage ends. Following the principle of equitable distribution, a court will divide marital assets and liabilities equally between the spouses, with some notable exceptions.

Protecting separate property during a marriage

Inheritances and gifts are generally considered separate property when obtained while married, but there are exceptions. Any assets or debt deemed marital property are subject to division in a divorce. Although not expressively required, Florida law encourages an equal distribution of property. This might mean a fifty fifty split or what a judge decides is fair. To prevent one's spouse from claiming a share of an inheritance, spouses need to follow some rules.

Overlooking important financial matters during divorce

A Florida couple entering into proceedings for divorce may find that asset division is one of the most challenging issues to resolve. It isn't uncommon for one partner in a marriage to be somewhat unfamiliar with financial issues affecting the couple, and this can create challenges in obtaining a fair settlement in a divorce. It is important to consider both assets and liabilities during the divorce process so that unexpected problems don't arise later.

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Thompson Family Law, P.A.
3949 Evans Avenue, Suite 206
Fort Myers, FL 33901

Toll Free: 888-550-6071
Phone: 239-243-9297
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