We have previous looked on this blog at the issue of property division in divorce. As we’ve noted, Florida courts use an approach to property and debt division known as equitable distribution, which in this state means that courts begin with the premise that distribution of assets should be equal between the parties, unless there is unequal distribution is justified.
In every divorce, splitting spouses will need to go through the process of dividing assets. As hard as this can be when it comes to assets like your home, gifts and money in your bank account, it can be especially difficult if you have share a pet.
One of the most contentious steps in the divorce process is dividing up the assets. Considering all that can be involved and at stake when it comes to dividing up property, it can be important that you are prepared for some of the challenges that lie ahead.
Living with someone you are divorcing can be a nightmare. Between the fighting and tense silences, two people can struggle enormously to live with someone they don't even like, respect or trust anymore.
Going through a divorce can make people do and say things they later regret. Hiding assets is one such mistake that could have serious consequences. The person hiding the assets could face penalties like having to pay their ex's legal fees and even jail time in some cases. Alternatively, the person from whom the assets were hidden could walk away from the divorce with less than they deserve.
When the time comes to divide your assets in a divorce, doing so can be far more complicated than you expect. You -- or a judge -- will have to make a decision on how to separate property equitably, but before that can even be done, you will need to figure out which property is separate and which property is marital.
Imagine working for months on your divorce settlement only to have it thrown out or dismissed. You stand helpless as hours upon hours of work, collaboration, negotiation and compromise are deemed unenforceable.
One of the most complicated parts of a divorce is the division of assets; in some cases it is the most complicated part. In order for you or the court to work out the equitable distribution of assets, it will be crucial that any and all documentation relevant to your finances be disclosed.
The process of dividing up your assets can be one of the most difficult aspects of your divorce. It is the manifestation of splitting up, and it can turn out to be much more emotional and contentious than you expected, especially when you don't exactly know what to anticipate.