Palm Beach Property Division Lawyer
Dividing marital property, referred to as equitable distribution, is often one of the primary objectives, and potential points of contention, of divorce. Property includes not only assets, but also liabilities (debts), and allocating both in a manner satisfactory to each party is not always easy, yet it is necessary regardless. The Law Office of Georgia T. Newman is here to help guide you through this process to secure a fair division of property upon divorce.
The Law Office of Georgia T. Newman understands that dividing assets and debts can be a difficult issue in divorce. Frequently, Attorney Newman’s approach is to negotiate a property settlement and reach a fair agreement outside of court. However, in the event an agreement cannot be reached, she is always prepared to litigate to protect her client’s best interests. Palm Beach property division lawyer Newman is experienced in cases with complex property divisions, which often include high-net worth marital estates, business interests, international investments, complex valuation issues and/or valuable assets.
Equitable Distribution of Marital Assets & Liabilities
In Florida, family law courts follow the rules of equitable distribution to allot marital assets and liabilities as fairly as possible upon divorce. First, each spouse’s non-marital assets and liabilities are set aside (these are income, property, and debts acquired outside the marriage), and then the court must distribute the marital income, property, and debts starting from the premise that the distribution should be equal, unless the court finds sufficient justification for an unequal distribution based on relevant factors, including:
- The contribution to the marriage of each spouse, including contributions to the care and education of the children and services as homemaker.
- The economic circumstances of the parties.
- The duration of the marriage.
- Any interruption of personal careers or educational opportunities of either party.
- The contribution of one spouse to the personal career or educational opportunity of the other spouse.
- 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.
- 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 non-marital assets of the parties.
- The desirability of retaining the marital home as a residence for any dependent child of the marriage.
- The intentional dissipation, waste, depletion, or destruction of marital assets after the filing of the petition or within two years prior to the filing of the petition.
- Any other factors necessary to do equity and justice between the parties.
Valuation of Assets
Understanding the true value and scope of your property in divorce is essential to achieving a fair division of assets and liabilities between you and your spouse. The value of certain assets may be fairly simple to determine, while other assets may require value appraisals. The Law Office of Georgia T. Newman takes the necessary steps to prove the value of your property in order to properly prepare for negotiations, or for presentation to the court.
Contact a Palm Beach Property Division Lawyer with Expertise
Consulting with a West Palm Beach property division lawyer who has extensive experience in complex property division cases is essential to ensuring your divorce results in an equitable distribution of assets and liabilities. Please contact the Law Office of Georgia T. Newman in West Palm Beach for details on representation, and take the first step toward securing the life you deserve after divorce.