On behalf of The Law Office of Gustavo E. Frances, P.A.
If you’re on the brink of ending your marriage or are currently divorcing your spouse in Fort Lauderdale or elsewhere in Florida, you’re probably wondering what factors are taken into account by judges when dividing property in a divorce.
Say no more. You’ve come to the right place. Under Florida divorce laws, the property is divided equitably and fairly between two spouses during a divorce. Even though the law defines the word “equitable” as “equal,” a judge can divide property not strictly evenly if he or she believes that an equal, 50/50 division would be unfair.
What factors are taken into account in property division?
Our Fort Lauderdale property division attorney at Law Office of Gustavo E. Frances, P.A. has provided you with the list of factors that are being considered by a judge when dividing property and assets in a divorce:
- The length of the marriage;
- Each spouse’s economic status and wealth before the marriage;
- Each spouse’s contribution to increasing household income during the marriage;
- Whether the marriage interrupted either spouse’s career or education or limited career or educational opportunities (for example, due to childbirth and raising the kids);
- Each spouse’s contribution to the marriage, both economic and non-economic, including their contribution as a parent;
- What impact each spouse had on each other’s career or education;
- Each spouse’s liabilities during the marriage that have affected marital or non-marital assets either directly or indirectly;
- Whether any of the spouses engaged in reckless spending, intentional waste or depletion of marital assets after filing papers for divorce or 24 months prior to divorce.
As you can see, there is a wide variety of factors that may affect a judge’s decision on property division in a divorce. That’s why it’s highly advised to be legally represented by a property division attorney in order to make sure that your property and assets acquired during the marriage are divided fairly and ALL factors are taken into consideration.
Dividing property in a Florida divorce: it’s complicated…
It is also important to understand that the family court prioritizes the interests of children if the two divorcing parties are parents. Therefore, a judge may or may not order the spouses to sell their marital home and divide the proceeds if this is in the best interests of their children. Or, on the other hand, the house may be awarded to the custodial parent to not interrupt the upbringing of their children in this home, while awarding the noncustodial parent with others assets to make up for it.
As you have probably noticed by now, each divorce is unique and there may be several factors that can affect the judge’s decision when it comes to property division. That’s why it’s imperative to seek the legal advice of a Fort Lauderdale property division lawyer to ensure that your property is divided fairly either in or outside of court.
An attorney will also help you determine a monetary value of each item in the spouses’ possession. This will be done with the help of professional appraisers who take a meticulous approach when it comes to assessing value of property and assets in a divorce.
Last but not least, former spouses will have to assign all debt accrued during their marriage, including loans, mortgages and other obligations. You wouldn’t want to end up having to repay loans and mortgages on your own, would you?