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What you need to know about property division in Florida

Property division can be an emotionally and financially complex part of divorce proceedings. Because of potential complications, it is best to gain an understanding of the state laws on property division in order to make the most beneficial decisions during a difficult time. Florida is a not a community property state, which means that a judge typically determines how property is divided based on what is considered to be fair or equitable. 

When divorcing, a couple may be able to work together to negotiate the terms of a divorce agreement. This would include details of dividing assets and finances, agreed upon through discussion, negotiation and/or other means of alternative dispute resolution. Respective legal teams can help draft terms that are beneficial to both parties, and and all agreements are subject to approval by the court. 

When a Florida couple is unable to work together, a court will evaluate several factors in order to determine the most equitable division of all marital property. Earning capacity, grounds for divorce, children and the age and health of the spouses will all be considered before making a final decision. An experienced divorce attorney can evaluate the situation, assess the property rights of an individual and move to protect those rights during a divorce. 

A divorce is often overwhelming for many reasons, including the thought of losing valued or sentimental property and assets. It is possible to take steps to avoid a disproportionate division of assets, but it is important to understand what is considered marital property and what will likely be subject to division during a divorce. The best way to understand individual rights pertaining to property division is to rely upon the guidance and support of a family law attorney. 

Source: statelaws.findlaw.com, "Florida Marital Property Laws", Dec. 28, 2014

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