Marriage is the legal union of a couple that directed all properties acquired during the marriage to be owned by both spouses, thus, deemed as marital properties.
Florida law is equitable and it always ensures the fair distribution of properties of the divorced couple during the dissolution of their marriage. This may seem simple yet an uncomplicated process of property distribution of the properties provided the subject properties are considered marital property.
What is marital property?
Marital properties are the personal and real properties as well as the improvements that took place during the marriage. It is deemed as enhancement whose value is attributed to the account of marriage, provided that such development has been carried out using the money from the savings of marriage. This concept is uncomplicated because when the premarital properties are improved that to effect increases the monetary value of the same property, the difference between the old property fair market value and the latest one is considered owned by both spouses in the equal division.
This is a property that is not part of the marital properties. Meaning, this property has been gained before the celebration of a marriage ceremony.
The classification of this property is a private property of the spouse and this will not be considered a property of the couple. However, when the non-marital property has been enhanced and /or improved, the improvement is deemed part of the marital properties and also be subjected to equal distribution as a result of a divorce.
How Does The Division Of Assets And Debts Change If Both Parties Own The Business in Florida?
If both parties owned the business, the Court will ensure the equal distribution of properties.
The equal distribution of properties due to divorce has been set by law to 50/50 shares and this is the default standard unless otherwise proven prejudicial to the interest of one of the parties.
The scope of the marital properties is huge because it likewise includes even the receipt of gifts to a spouse. Florida law is apparent and its intention is to make all belongings either personal or real to be part of the marriage estates. The idea is fixed that all things received may it be an expensive or cheap item belongs to the matrimonial properties.
As a matter of fact, when a spouse buys an appliance from the budget drawn from his personal salary, it would still be considered the personal property of the couple. The law does not distinguish the source of the money utilized as long as the purchase took place during the marriage, it would still be considered part of the marital properties.
The application of the law is confusing for those who are not used to undertake such litigation. It is strongly advised to get hold of the professionalism and commitment of a proficient and experienced Fort Myers, Divorce Attorney and Marquez-Kelly Law is Divorce Attorney that is highly recommended to fit the description of an effective and efficient lawyer.
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Contact Fort Myers-Cape Coral, FL Family Law Attorney
In case you are in Fort Myers, Florida and you want to ensure your success, it is tremendously encouraged to get in touch with us. We already mastered the bits and bobs of divorce proceedings and we ensure that our customers’ welfare is absolutely safeguarded.
Marquez-Kelly Family Law Attorney will guide you on the following:
- Filing and serving a petition for divorce
- Answering a petition
- Attending a court hearing
- Dealing with child custody/support
- Division of property
- Handling a settlement agreement
Attorney Marquez-Kelly, a Divorce Attorney in Cape Coral is a graduate of Bishop Verot Catholic High School, in Fort Myers, FL. In the year 2006, she obtained her law degree from Florida Agricultural and Mechanical University College of Law.
Attorney Marquez-Kelly is a Divorce Attorney Fort Myers member of the Florida Bar Association and the United States District Court. She founded the Marquez-Kelly Law in the year 2013. Her areas of practice include Dissolution of Marriage, Paternity, Guardianship, Family Law matters, and Real Estate Law.