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Community Property vs. Equitable Distribution

| Jul 5, 2017 | Divorce, Firm News

During a divorce, the shared marital property is inevitability divided between the two parties. The way this property is divided is dependent on a number of factors, most of which are unique to the couple. However, there are certain standards in the state of Florida which apply to every divorcing couple, especially since equitable distribution state, as opposed to a community property state. In a community property state, both parties are assumed to equally share all income, property, and debts accrued during the marriage. It is an oversimplified solution to a vastly complex problem.

In equitable distribution states, such as Florida, there is an implementation of a standard called common law. Assets aren’t divided right down the middle, as various factors are considered before making the decision. Instead of splitting everything in half, equitable distribution is enacted to differentiate between marital and separate property. Though this will need to be proven in court, certain property can be except from being divided–such as gifts and inheritances. However, the longer the marriage, the more difficult it will be to ascertain between shared and separate property.

Next, all assets will be observed by the courts and assigned a financial value, and the process of determining who is entitled to what begins. During this rather contentious and complicated time, you will need to enlist in the help of an aggressive and experienced Ocala divorce lawyer who will relentlessly fight on your behalf.

Marital property in Florida is divided depending on the status of the following factors, including but not limited to:

  • Length of marriage
  • Age of both spouses
  • Health status of both spouses
  • Each spouse’s earning potential
  • Alimony
  • Child support
  • Standard of living during the marriage
  • How each spouse contributed to the marriage, financially or not

Contact Our Ocala Divorce Lawyer Today

As you can see, marital property division can get incredibly complex and drawn-out in the state of Florida. This is one of the most important parts of the divorce process, as you can be left with little to nothing if your Ocala divorce lawyer is unable to prove exactly what you are entitled to. With the help of Ami L. DiLorenzo, P.A., you can rest assured you are in the hands of a strongminded and compassionate divorce attorney who has the tenacity to see your case through to the end. Don’t risk being left with crumbs when our legal team can help you walk away from your marriage with exactly what you deserve and more.

To speak to a representative of our firm, please don’t hesitate to contact us at your earliest convenience by calling (352) 437-2200.