Division of property, that is assets and liabilities is known as equitable distribution in Florida. Equitable distribution does not necessarily mean that the property is divided 50/50 between the parties. The Court has discretion in dividing up the assets and liabilities as to who gets what, and how much each spouse actually receives. All types of property may be subject to equitable division including but not limited to cash, bank accounts, any liquid assets such as stocks and bonds, 401K’s, retirement and pension plans, assets such as real estate, vehicles, boats and planes.

A determination must first be made as to whether or not the asset or liability is marital or non-marital. Assets or liabilities may be non-marital because they were acquired before the marriage, or they were inherited, or were gifted to that particular spouse. Non-marital property is not subject to division between the parties. It is often an issue as to whether or not a particular asset or liability is marital or non-marital.

The division of assets and liabilities may be a very complicated matter depending on the amount and form of the property that must be divided. The Law Firm of Jeffrey Hap is very experienced in property division matters in both simple divorces, as well as highly complicated property divisions that may even require the help of a forensic accountant.

It is imperative that you seek the help of an experienced professional such as The Law Firm of Jeffrey Hap in order to insure that you receive your fair share of the property in the course of a divorce proceeding. Call us for a free initial consultation at your earliest convenience to help understand your rights and liabilities concerning equitable distribution.