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How is Property Divided During Divorce? What You Should Know.

Divorcing spouses are often very concerned about how their property will be divided, should they ever get a divorce. Please continue reading and speak with an experienced Broward County marital property lawyer here at The Finizion Law Group to learn more. Here are some of the questions you may have:

How is property divided during divorce in Florida?

The first thing you should understand about property distribution in Florida is that if you cannot agree on a settlement, you will have to litigate your divorce in court. When this happens, courts will first break your property down into two categories: marital and separate property. Marital property will typically include all property you and your spouse have acquired during your divorce, while separate property includes property you and your spouse acquired prior to or outside of your marriage, such as gifts. Marital property is subject to equitable distribution, which separate property is not. You should also note that debt accrued by either spouse during a marriage is typically considered marital property as well, meaning often, both spouses are responsible for paying off the debt.

Courts will consider a wide array of factors when determining how they will divide your marital property, including:

  • Each spouse’s age and health
  • Each spouse’s yearly income
  • Each spouse’s earning capacity
  • Whether you have a child custody agreement in place
  • How much each spouse contributed to the marriage
  • Any other factor the court deems relevant

What can I do to protect my property from a divorce?

Fortunately, there are several steps you and your spouse can take to protect your assets from the pitfalls of a divorce. To start, you can write a prenuptial agreement before you are married. This document will allow you to predetermine what will happen with certain assets, should you ever get divorced. You can also outline other financial matters, such as a potential alimony agreement. Though you cannot draft a prenuptial agreement if you are already married, you may draft a postnuptial agreement, which serves the same essential purpose. If you have any further questions or you would like to get started, please do not hesitate to speak with an experienced Broward County family law attorney right here at our firm.

Contact Our Experienced Broward County Firm

If you require legal representation for matters of personal injury, family law, criminal defense, commercial litigation, or aviation litigation, look no further than The Finizio Law Group. Our firm has decades of combined experience representing clients from all walks of life, and we are here to put those years of experience to work for you as well. Contact us today to schedule your initial consultation with our team and to learn more about our services and how we can assist you.

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