One of the very first questions that will likely come to your mind once you decide to pursue or even a consider a divorce is, simply, “who gets what?” Under Florida law, both spouses in a marriage are entitled to an “equitable distribution,” meaning a fair if not necessarily equal division of “marital property” held by the couple, regardless of whose name the property is in or who purchased it. At The Law Offices of Ira M. Marcus, P.A. in Miami, we represent divorcing spouses in achieving fair and just outcomes in all matters relating to division of marital property.
What is Marital Property?
Florida law makes a distinction between separate property and marital property. Separate property is the property each spouse had before the marriage or which was gifted to a spouse personally by a third party (someone other than the other spouse). Separate property is returned to the spouse who held it during a divorce.
Marital property, on the other hand, is any property that was earned by either spouse during the marriage or purchased with funds earned during the marriage or held by both spouses as joint owners. Thus, regardless of whether one spouse worked or both spouses worked, all property earned or acquired with marital funds is considered marital property and subject to equitable distribution, including gifts given by one spouse to the other purchase with money earned during the marriage.
Working Towards a Favorable Equitable Distribution
The spouses can work together to reach an agreement regarding how their marital property should be split that is equitable, or a court will make this division if the parties cannot agree. Property subject to equitable distribution includes:
- Investments and retirement funds
- Real estate
One of the most important aspects of this process is making sure that the other party plays by the rules in providing a full list of all property held and a correct valuation of that property so that you are not unfairly treated in the divorce process. Our team will help to make sure:
- All property is listed before the court
- Property which has been hidden or wrongly given to other parties is found
- Proper valuations are placed on marital property so that it can be equitably distributed
- Separate property and marital property is appropriately classified
- The court properly considers all factors going into an equitable distribution, including: the financial needs of both parties; the duration of the marriage; the contributions by both spouses to taking care of children; the efforts by both spouses to increase property value, etc.
- You receive your fair share of the marital property
If the other spouse was guilty of any marital misconduct such as an extramarital affair, gambling, or substance abuse, we will also present evidence to the court of such misconduct to increase your chances of a fair distribution.
Legal Help in Your Florida Divorce Action
When you work with The Law Offices of Ira M. Marcus, P.A. in your property division matter, we will do everything we can to assist you in obtaining the most favorable outcome in any property division settlement agreement or court ruling.
No matter where you are in the divorce process in Florida, from initial consideration to ongoing litigation, The Law Offices of Ira M. Marcus, P.A. in Miami can help. Contact our office today to set up a consultation with a trusted and caring family law attorney.
How We Help
The divorce process in Florida encompasses a wide range of issues, all of which will be determined in settlement or at trial. At The Law Offices of Ira M. Marcus, P.A., we will guide you in reaching your goals in the following areas:
Division of Marital Property
Parenting Plans / Time-sharing
Protect Your Rights
Three of the most important financial issues you will face in a divorce are 1) how your “marital property” (meaning property earned or acquired during the marriage) will be divided between you and your spouse; 2) how much alimony, if any, will be paid from one spouse to another following the divorce and for what period of time; and 3) the amount of child support owed or received.
Attorney Ira Marcus will work with you to achieve the most favorable outcomes on the above issues, as well as in all child custody matters, to help you realize your best possible outcome.