Gainesville, Florida Divorce and Property Division Lawyer
Divorce with Assets in Gainesville, Florida
Gainesville, Florida asset and property division lawyer Nick Hamm understands the stress you face when dealing with asset division pursuant to your divorce. The assets and debts a couple have will many times represent a lifetime spent together planning for your shared future. Now, in the midst of the breakdown of your marriage, you are faced with the task of dividing assets and debts. Gainesville, Florida divorce attorney Nick Hamm can help you focus on the important facts so that your economic future is in the best position that it can be after your divorce. Remember, you don’t have to go it alone.
In Florida, one aspect of divorce is how to divide the assets and debts the parties acquired during the marriage. Assets and debts are first categorized into two columns: marital assets/debts and non-marital assets/debts.
The parties are each entitled to their respective nonmarital assets. How to determine whether an item is a marital or non-marital asset is not always straightforward. In general terms, a marital asset or debt is one taken on during the marriage. A nonnmarital asset/debt is one obtained prior to the marriage. Confusion arises when a nonmartial asset has co-mingled with marital assets to such an extent that the asset loses its nonmarital nature.
If the parties are unable to agree on how assets should be split (there is a presumption that assets should be split 50/50), then the local judge will decide. The judge will consider several factors in determining how to split the assets, including:
(a) The contribution to the marriage by each spouse, including contributions to the care and education of the children and services as homemaker.
(b) The economic circumstances of the parties.
(c) The duration of the marriage.
(d) Any interruption of personal careers or educational opportunities of either party.
(e) The contribution of one spouse to the personal career or educational opportunity of the other spouse.
(f) The desirability of retaining any asset, including an interest in a business, corporation, or professional practice, intact and free from any claim or interference by the other party.
(g) The contribution of each spouse to the acquisition, enhancement, and production of income or the improvement of, or the incurring of liabilities to, both the marital assets and the nonmarital assets of the parties.
(h) The desirability of retaining the marital home as a residence for any dependent child of the marriage, or any other party, when it would be equitable to do so, it is in the best interest of the child or that party, and it is financially feasible for the parties to maintain the residence until the child is emancipated or until exclusive possession is otherwise terminated by a court of competent jurisdiction. In making this determination, the court shall first determine if it would be in the best interest of the dependent child to remain in the marital home; and, if not, whether other equities would be served by giving any other party exclusive use and possession of the marital home.
(i) The intentional dissipation, waste, depletion, or destruction of marital assets after the filing of the petition or within 2 years prior to the filing of the petition.
(j) Any other factors necessary to do equity and justice between the parties.
Call Gainesville, Florida attorney Nick Hamm today at 352-888-6142 for a consultation to discuss how to protect yourself and your assets during your divorce. Or, check out The Florida Family Law Blog for more information.