Three Factors that May Benefit You in Marital Property Division
Division of marital property plays a key role in any divorce proceedings. Agreements made and orders issued by a judge have the potential to impact you and your financial security for years to come. As experienced Fort Lauderdale divorce attorneys, we act as fierce negotiators on your behalf, carefully reviewing all aspects of your case. The following are three factors that could influence the amount you are entitled to, allowing you to retain ownership of a larger portion of property and assets in your divorce settlement:
- Your contributions to the marriage.
Under the Florida Statutes, marital property is divided on an equitable basis. This means that rather than splitting everything 50/50, the goals is to reach a property settlement that is fair. One of the areas to consider is each person’s contributions to the marriage itself. If you did not work and therefore did not contribute as much in accumulating property and assets, you could still be entitled to a larger portion in your property settlement as the result of unpaid efforts or sacrifices you made. This would include taking time off from your career to support your spouse or to care for your children, or voluntarily spending time on a business your spouse owns.
- Your economic circumstances.
Each spouse’s individual income and assets are also looked at in a divorce case. If you are reentering the workforce after years of staying home with children, or if you otherwise make significantly less income than your spouse, this could entitle you to a greater portion of property and assets in a settlement. The is also the case if your spouse has significantly more individual assets, such as real estate or investment accounts. While you would generally not be entitled to any premarital assets they possess, you may be entitled to a greater share of marital property.
- Dissipation of marital assets by your spouse.
Dissipation occurs when one spouse squanders, recklessly spends, or otherwise wastes assets. This could take the form of depleting bank accounts due to a drug or gambling addiction, spending money on presents, dinners out, and trips for someone with whom they are having an affair, or otherwise giving away or hiding assets to keep from having them divided in divorce proceedings.
According to Forbes, this type of behavior is common, and may even be used as a sort of revenge against the spouse who is filing for divorce. If this is currently happening or if you suspect it is likely to occur in your case, we can help you get a temporary restraining order (TRO) prohibiting this type of behavior. If it has already occurred, we can help you make up for these losses in your marital property settlement.
Reach Out to Us Today for Help
When dealing with matters that could impact your financial security for years to come, you need an experienced Fort Lauderdale divorce attorney you can trust on your side. Call or contact attorney Vanessa L. Prieto online and request a consultation to see how we can help you today.