In my Florida divorce case, can we decide ourselves how to divide our property?
Yes, you can. Only marital assets and debts are divided when a couple divorces. Marital assets include everything the spouses acquired, both separately and together, during the marriage. Florida law also says that marital assets include all vested or nonvested benefits, rights or funds either spouse accrues during the marriage, including retirement, pension, profit-sharing, annuity, deferred compensation, and insurance plans and programs.
The property is non-marital, or separate, if a spouse owned it before marriage or acquired it during the marriage as a gift (not including gifts from the other spouse), or by inheritance.
Spouses can divide assets by assigning certain items to each spouse, possibly with an equalizing payment if one spouse gets substantially more than the other, or by selling the property and dividing the proceeds. Couples who get along fairly well with one another sometimes agree to continue owning property together for some specific purpose. For example, they might agree to keep the family home until children are out of school or keep an investment property in hopes it will increase in value.
For divorce assistance, contact the Divorce Attorney Tampa for your Free Consultation at (813) 336-3616.
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