How To Protect Your Rights Regarding Marital Property Division In Fort Lauderdale
If you are considering or going through a divorce in Fort Lauderdale, be aware that one of the most important issues that need to be resolved in your case concerns the division of marital property and assets. You are entitled to a fair share of everything earned, acquired, or otherwise accumulated during your marriage. Our Fort Lauderdale divorce lawyer explains more about the process and how to protect your rights in court.
Your Rights To Marital Property In A Fort Lauderdale Divorce
You and your spouse may have accumulated significant amounts of property and assets over the course of your marriage. In the event of a divorce in Fort Lauderdale, you will need to develop a plan for dividing these between you before a final divorce order can be issued by the court.
Under the Florida Statutes, all property and assets acquired during your marriage are divided on an equitable basis. This means you have the right to receive a fair share of homes, cars, money in bank accounts, and other items. In determining what is reasonable, the court will consider the following factors:
- The length of your marriage;
- Each party’s income and overall contributions;
- The amount of outstanding debt the couple owes;
- Other factors, such as if there are children involved;
- Whether either of you acted to deplete assets, either by attempting to sell or hide them or through adultery, gambling, and other types of marital misconduct.
How To Protect Yourself In Property Division Proceedings
To protect your rights regarding marital property division when filing for divorce through the Broward County Family Court, one of the most important steps you need to take is to make a complete inventory of all assets. Along with homes and cars, be sure to list all household furnishings, artwork or antiques, personal items, collectibles, investments, retirement funds, shares in businesses, and online assets.
Once you have completed this step, additional ways to protect yourself include:
- Get a reasonable value for all property;
- In addition to current values, include replacement costs;
- Get recent statements for all financial accounts;
- Make sure to factor in pensions and life insurance policies;
- Consider whether you are able to maintain certain items, such as the family home, without additional help;
- Consider what you might be willing to negotiate on and what you are adamant you want;
- Realize that you will likely have to make some sacrifices;
- Document as many assets as possible;
- Look for potential hidden assets on your tax returns;
- Consider selling certain types of property and dividing the profit between you.
Request A Consultation With Our Fort Lauderdale Divorce Lawyer Today
Settlements concerning marital property division in a divorce have the potential to impact your rights and financial security for long after your divorce is final. To get the best possible settlement, get the law office of Vanessa L. Prieto on your side. Call or contact our Fort Lauderdale divorce lawyer and request a consultation today.