Equitable Distribution in Ocala Divorce
Protecting Your Property During Your Divorce
Florida lawmakers have tried to simplify the property division process of divorce by using an equitable distribution model, instead of the community property model used by other states. In this model, all marital property and debts acquired during the marriage are initially presumed to be divided equally between the two divorcing spouses. This is the starting point.
There is, however, rarely a clear-cut division of martial assets and debts. Marital property can consist of a variety of complex assets which are not easily divided, such as pensions, annuities, collections, stock options, real estate holdings, trusts and savings. This goes beyond dealing with the house and the car. Additionally, some property and debts acquired during the marriage do not fall into the category of marital property. Such property is not subject to equitable distribution during the divorce.
At the law firm of Anne E. Raduns, PA, we know how to overcome the uncertainties of property division. We are committed to protecting your property during your divorce, and our Ocala divorce attorney is ready to work tirelessly to achieve the outcome you deserve.
Classification: Is it marital property or isn't it?
The first thing that needs to be determined is which property and debts are classified as marital property and which are not. If it was acquired prior to the marriage, it is not marital property, as long as it is still discernible. Unfortunately, there are situations in which property becomes so intertwined with marital property that it is no longer easily separated. We are experienced at representing men and women in property division and classification matters, carefully determining whether property is marital or non-marital and if marital property has been commingled or lost its non-marital identity.
Valuation: How much is the property worth?
After property has been classified, the next step in equitable distribution is to determine how much the marital property is worth. We frequently handle high-asset divorces and understand the intricacies of handling these matters. Our team has the ability to address valuation of even the most complex assets, such as professional practices - for lawyers, doctors, engineers, accountants and architects - pension plans and stock options, unique collections and more. We will not hesitate to delve into our network of experienced professionals - including actuaries, appraisers, real estate brokers and other specialists - to achieve a fair value of all marital property, as well as debts. Call us now for an initial case evaluation to learn about how much you can expect to receive in your divorce!