Jacksonville Property Division Lawyer

How Is Property Divided in a Divorce in Florida?

At Charles E. Willmott, P.A., we are a law firm in Jacksonville, FL specializing in property division for divorcing couples. We understand the complexities of dividing assets in a divorce, and our Jacksonville property distribution attorneys are here to help you get through the process with as little stress and conflict as possible.

It is important to protect your property and make sure you receive the assets you deserve. Whether you have few marital possessions or you are facing a high net worth divorce, it is important to make sure that your assets are protected.

Property division is an important stage of the divorce process and requires serious attention. Call Charles E. Willmott, P.A. at (904) 849-5183 or contact us online today!

Is Florida an Equitable Distribution State?

Florida is an equitable distribution state. This means that in the event of a divorce, the court will divide marital property and debts equally between the spouses. This does not mean that property is necessarily equally divided. The court will consider various factors, such as the length of the marriage, each spouse's financial situation, and the contributions of each spouse to the marriage (including home-making and child-rearing), when making its decision on how to divide the marital property.

Florida Marital Property

Marital property in Florida is any property acquired by either spouse during the marriage, regardless of who paid for it or whose name is on the title. Some of these assets include income, real estate, personal property, business property, investments, pensions, IRA's, vehicles, collectibles, jewelry, family possessions, and profit sharing plans. Some of the debts include mortgages, credit card balances, and car loans.

Many factors go into play when the court divides property, such as the cost of health insurance, annuities, liabilities and trusts. It's important to note that there are exceptions to the general rule that all property acquired during the marriage is considered marital property. Prenuptial agreements can also affect how property is divided in a divorce.

Non-Marital Property in FL

There are many possessions that the court will divide up in an equitable manner, but debts and assets that were obtained outside of the context of marriage will typically not be divided. Property that was acquired by gift or inheritance to one spouse is considered separate property and not subject to division in a divorce. However, these assets can become marital property if they are commingled with marital assets or used for marital purposes.

Who Gets the House in a Florida Divorce?

The marital home is often the most valuable asset that a couple will divide in a divorce. The pair can decide the fate of their house together through mediation or negotiation, or leave the matter to be settled by a judge or arbitrator.

Because Florida is an equitable distribution state, each spouse should still receive a fair share of the value of the home.

A judge may order, or each party may agree, to:

• Award the home to one spouse, who must then buy out the other’s share of the home
• Sell the house and divide the profit

If there are children:

• The court will typically award the home to the custodial parent. This allows children to stay in their same room and school district, providing them with a degree of normalcy as they adjust to their changing home life.