The Divorce Process Helps Couples With Property Division
On behalf of The Law Offices of Cindy D. Sackrin posted in Divorce on Friday, May 8, 2015.
Divorce can involve a number of changes and transitions, including the division of property between the divorcing spouses. When a couple is divorcing, marital and non-marital property is divided. According to property division rules, the court is required to determine what is included among the marital property that has been acquired during the marriage up until the date of separation.
The court will also need to value the marital assets. Couples can acquire a number of assets during a marriage, ranging from real estate, such as a home or other real estate assets, to cars, jewelry, artwork and other types of assets. While Florida courts follow equitable distribution rules to ensure the division of assets is fair, there are a number of circumstances that may be taken into account when dividing assets. Establishing a spouse's rights to certain assets is important and may require a variety of different considerations.
It is also important to keep in mind that assets including pension and retirement plans, which may not be as commonly thought about, must also be properly distributed. The property division process may seem overwhelming at the end of a marriage. It may be helpful to keep in mind, however, that divorcing couples can also reach property division agreements themselves that, provided they are fair, may help avoid acrimony and unnecessary costs and delays.
Regardless of how a divorce, or property division, process proceeds, the family law system is designed to help ensure that the property division process is conducted as fairly as possible and allows the parties to move forward towards a productive future. It can be helpful to remember, and understand, the family law resources available to divorcing parties as divorcing couples make their way through the divorce process.