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What’s Your Is Yours – Dividing Property During Divorce Fairly

In Florida, property held by both parties is considered marital, notwithstanding when the property was acquired. In order to prove a property is separate, a qualified Fort Lauderdale property division attorney must present clear and convincing evidence in court. If you have questions about how property division process works in Florida, give Law Offices of Gustavo E. Frances a call today.

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What’s Your Is Yours – Dividing Property During Divorce Fairly

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  1. What’s your is Yours - What’s your is Yours - Dividing Property during Dividing Property during Divorce Fairly Divorce Fairly

  2. While all states have different rules about property division, Florida involves an equitable division of your assets. It all comes down to one thing, property division should be fair, no matter how much you dislike your former spouse. 2 2

  3. Some Aspects Include When Dividing Some Aspects Include When Dividing Property Property How long you have been married for? ❖ Your financial situation ❖ Educational opportunities ❖ Financial contributions to the marriage ❖ Contributions to acquiring or improving marital assets ❖ 3 3

  4. Some Assets are Difficult to Divide Some Assets are Difficult to Divide Some assets are more difficult to divide than others. For instance, when a spouse starts a business during the course of the marriage, it generally becomes a marital asset. However, in most cases, the operating spouse stays with the business. A marital home, on the other hand, can’t be divided yet it can be sold and divided. Courts will also consider how these decisions can affect school-age children. 4 4

  5. Marital versus non-marital property Marital versus non-marital property There is always the possibility of converting the non-marital property into marital property. This is possible through title transfer. In Florida, property held by both parties is considered marital, notwithstanding when the property was acquired. In order to prove a property is separate, a qualified Fort Lauderdale property division attorney must present clear and convincing evidence in court. 5 5

  6. Assessing and dividing Assessing and dividing Couples who get along may continue owning property together. For instance, some divorcees may want to keep the family home so the children have a stable place to live or wait until the property increases in value. There are also debts accrued during marriage such as credit card debts, car loans, and mortgages. These can be difficult to figure out on your own if you don’t hire expert advice. 6 6

  7. Some tax considerations Some tax considerations There shouldn’t be any tax issues on your next tax return since there are no federal tax complications regarding property transfer during divorce. However, transfers should be done in a timely manner, and it should be related to the dissolution of marriage in order to avoid tax consequences. 7 7

  8. Law Offices of Gustavo E. Frances Law Offices of Gustavo E. Frances 200 SE 6th St #402, Fort Lauderdale, FL 33301 1-866-435-4172 https://www.lauderdaledefense.com/Contact.shtml

  9. Thanks! Thanks! Any questions? You can call at 1-866-435-4172 9 9

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