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Tampa Property Division Lawyer
In Florida, the division of property and debts is referred to as equitable distribution. In general, equitable distribution is a four-step process:
(i) identify all of the assets and liabilities,
(ii) value all of the assets and liabilities,
(iii) characterize all of the assets and liabilities as marital vs. non-marital, and
(iv) divide the marital assets. Marital property includes all income earned during a marriage, as well as all assets that are acquired with that income; marital debts include all debts that are incurred during a marriage.
In almost all cases, marital assets are divided equally. When a party seeks an unequal distribution of a marital asset or debt, they have to satisfy a relatively high burden of proof. It is neither simple nor easy to obtain an unequal distribution under Florida law.
When substantial assets are involved in a divorce, equitable distribution can be complex. Complexities arise when, for example, there are substantial business valuation issues, concealment of assets or significant claims relating to non-marital assets. Our firm has substantial experience in all of these areas.