Most people tend to view splitting up property in a divorce as a 50/50 practice. While a couple’s division of marital property might end up coming out to something that resembles a 50 percent split, this will not be the case for everyone. In Florida, property division falls under equitable distribution, which does not necessarily translate to equal.
In the case of equitable distribution, individuals can expect to receive a fair portion of marital assets. A fair distribution will look different for each couple. It depends on a variety of factors, including the length of the marriage and how much each person earned during that time.
But what about items that were purchased or obtained before the marriage? These are usually considered personal property and are not subject to property division. However, if that property is commingled — mixed with marital assets — then it can actually become marital property. Even items purchased with the intent of keeping them personal can actually be joint property if purchased with marital funds.
Divorce is an emotionally difficult process for most Florida couples, and property division can easily become an area of contention. This is especially true for individuals who come into the process expecting to receive half of everything only to discover that an equitable distribution leaves them with less than that. Understanding the nuances of complicated family law issues can help minimize these types of potential issues, and many people choose to utilize the guidance of an experienced attorney when dealing with these matters.
On behalf of North Tampa Legal Group posted in property division on Thursday, October 25, 2018.