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Property division options for a Florida divorce

On Behalf of | Oct 27, 2020 | Divorce |

Preparing for legal proceedings can be a stressful process. If a Florida spouse is concerned about property division issues, he or she is wise to gain as much knowledge as possible about marital finances before heading to court. It is helpful to seek clarification about state laws and marital property rules as well.

In this state, as well as most others, a family court judge will determine a fair division of marital property in divorce. This does not mean the court must split assets 50/50 between spouses, only that the division must be equitable (fair). Many spouses are able to negotiate their own terms of agreement regarding who gets what in a divorce. Others might encounter challenges if they disagree about a particular asset or liability. The court can decide unresolved issues for the spouses if they cannot come to an agreement on their own.

Tax issues and retirement benefits are also primary financial concerns in many Florida divorces. Such issues may be particularly concerning for a spouse who has been married several decades or has been financially dependent on the other spouse as a sole breadwinner. The more informed one is about personal tax and retirement benefits information before heading to court, the better.

If a Florida spouse suspects his or her ex is not adhering to full disclosure rules in a divorce, legal action can be taken to resolve the issue. Sadly, more than a few spouses attempt hidden asset schemes to try to beat the system and gain the upper hand in property division proceedings. This type of scheme is illegal, so a concerned spouse may reach out for legal support for help in gathering evidence and bringing the matter to the court’s attention.