Boca Raton Asset Division Lawyer
If your marriage is ending, there’s a good chance you and your spouse have marital assets that need to be divided. Asset division is one of the more complicated issues in any divorce. This is where negotiations often break down, meaning it could take weeks before your Boca Raton divorce lawyer and your spouse’s attorney are able to come to a settlement.
Under Florida law, the court presumes that assets and liabilities should be divided equitably between the parties and without regard to fault. However, “equitable” doesn’t necessarily mean equally. Dividing assets and debts during a divorce in Florida can be more complicated and confusing than you realize. That’s why you need an experienced Boca Raton asset division lawyer with specialized knowledge and considerable expertise in the division of assets and liabilities.
Specialized Knowledge and Expertise
Florida divorce law adheres to the principle of equitable distribution rather than the principle of community property, which requires everything acquired in a marriage to be split evenly. This means complications and questions frequently arise during the division of marital property. One spouse may allege that they’re entitled to more than half of the marital assets or that the other spouse should be responsible for the majority of marital liabilities.
Divorcing spouses may also disagree on what items are considered marital and non-marital assets. You need a divorce attorney with expertise in the equitable distribution of assets and liabilities to ensure your rights are protected. Tina L. Lewert, Esquire, is an experienced Boca Raton board-certified specialist in marital and family law. She understands the complicated nature of asset division and will fight for your rights to ensure a fair distribution takes place.
Factors That Affect Asset Division
During a disputed divorce, the division and distribution of marital assets can be emotionally charged and complex. Your Boca Raton divorce attorney can make certain the process and the outcome are as fair as possible. Several factors play into the division of assets. These will all need to be considered by you and your attorney.
Marital and Non-marital Assets
The assets and debts in your marriage could be either martial or non-marital. Marital assets or debts are those which you and your spouse acquired during the time you were married. These assets and debts are distributed equitably. The court will determine which assets and debts are marital and then assess the total value. After that, the court will decide how everything gets distributed. If you and your spouse can arrive at your own agreement, in most cases, the court will approve it.
Separate assets that you or your spouse brought into the marriage are considered non-martial. These will not be considered for distribution and will be awarded to only one person. It’s important for you and your spouse to clearly define all non-marital assets before or during the divorce proceeding.
Other Factors to Consider
The precise way assets are divided will depend on the divorcing spouses and their unique circumstances. The court may consider a number of factors during the division of assets. These factors include you and your spouse’s separate contribution to the marriage. They’ll also look at how long the marriage lasted as well as you and your spouse’s financial circumstances.
In most cases, retirement accounts and pensions will be divided between the parties as marital assets, but the entire value of a plan or pension is not necessarily marital property subject to division. Only the part of the plan that was earned during the marriage may be divided and distributed.
For more information about how a court will divide assets or debts in your case, contact Boca Raton divorce lawyer Tina L. Lewert at (561) 544-6861 today.
Can Adultery Affect Property Division?
Florida is a no-fault divorce state. Under no-fault divorce laws, spousal infidelity will not have any impact on child custody, alimony, property division, or any other aspects of the divorce. Florida’s divorce statues also include equitable distribution laws which require that all of the marital assets, as well as liabilities, be evenly divided between the spouses. However, there may be exceptions to the rule.
If your spouse was involved in an adulterous affair and wasted your marital assets in buying gifts for his or her paramour, the court may take this into consideration. This type of behavior may include splurging on lavish or extravagant vacations, paying rent for an apartment for the paramour, or buying fancy dinners. In this case, the court might decide that your marital assets were wasted. The court will take all of these purchases into consideration to ensure you’re compensated for the losses.
If your spouse cheated on you, talk to a Boca Raton family lawyer to understand whether this will have any impact on your divorce settlement. The infidelity by itself may not be a factor, but the court may consider any encroachment on your marital assets or financial well-being while deciding on the division of assets.
We Understand and Protect Your Interests
Many couples can settle the questions of property and debt distribution outside the courtroom. However, when divorcing spouses fail to reach an agreement, the court must step in to identify, classify, and divide the couple’s assets and liabilities. If this happens to you, you need an aggressive Boca Raton asset division lawyer who understands your interests and works hard to protect them.
Contact an Experienced Asset Division Lawyer in Boca Raton
At Lewert Law, LLC, we can explain your options, protect your rights, and help you take the appropriate legal steps towards a brighter future for yourself and your children. We invite you to schedule an appointment with experienced Boca Raton asset division lawyer Tina L. Lewert. Call today at (561) 544-6861 to set up a free, confidential consultation.