When it comes to property division in Florida, the court uses an equitable distribution model when determining the value and dividing a marital estate.
Marital assets are assets acquired during the course of marriage from the date of filing for marriage through to the date of filing the petition for divorce.
Non-marital assets are defined as any assets acquired prior to a marriage, as well as certain select gifts and inheritances.
All marital assets are subject to equitable division, whereas non-marital assets are not. The problem is that certain assets come into a marriage as non-marital and over the course of the marriage become marital. For instance, if someone owned a home prior to marriage and then put the house in both names and/or an addition to a home was funded by marital funds, a portion or the entirety of the assets becomes marital.
How, when and why assets are defined as or become marital can be immensely complex, and the valuation of the assets can be just as complicated. Arriving at the best possible outcome requires the expertise of an experienced family law lawyer. For more than 45 years we have been helping clients ideally resolve these issues, and we are ready to help you do the same.
Florida Property Division Attorney
Garrick n. Fox Attorney at Law has extensive experience working on extremely high-asset valuations and divisions. I am committed to taking the time to comprehensively understand the issues with which you are faced and helping you move toward the most equitable outcome.
To schedule a free consultation with a Daytona Beach equitable distribution attorney, contact our law office in Daytona Beach, Florida, at 386-248-2083.