Dade County Marital Property Division Attorney
When you are going through a divorce, you want to protect your financial future. An experienced family law attorney can help you understand your rights and protect your interests. At the Miami Law Offices of Stephanie G. Morrow, we can help you with every aspect of your divorce and help you to protect your financial future. Marital property division includes everything from financial assets to credit card debt.
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When it comes to property division in a divorce, it is important to understand the process used by the courts to determine the awarding of assets and liabilities. Florida is not (like California) a community property state. The terminology used in Florida for property division in a divorce is “Equitable Distribution” which encompasses the idea of fairness in property division taking into consideration the age, health and earning capacity of the parties, the length of the marriage, whether the property was purchased prior to the marriage to name a few. The courts in determining equitable distribution start with a 50/50 division of property and debts and then adjusts those figures based on the equities in the case. Clients are often surprised that in Florida it is irrelevant which party holds title. If it was obtained during the marriage, it is a marital asset.
Our divorce lawyer, Stephanie G. Morrow, will also help you understand the assets you have to protect and which assets are protected in the asset division process. Premarital property is not subject to division. However, even this is an oversimplification. You may have a premarital house (a house purchased by one party prior to the marriage), but if your spouse helped reduce the principle on the mortgage, they may be entitled to compensation. When things are straightforward, the process can be simple, but when the issues become complicated, you want an attorney protecting your best interests.
As part of Equitable Distribution, the debts of the parties will also be determined. Regardless of who incurred the debt, the court will determine whether or not the debt was incurred during the marriage. If so, the court has the authority to decide who will pay which debts.
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If you want to protect your rights and look out for your financial future, you want an experienced lawyer handling property division in your divorce. With over 20 years of experience helping individuals in South Florida get through their divorce, our attorney, Stephanie G. Morrow, can help you today. Contact us for more information about property division in your divorce.
