One of the key decisions made when a marriage ends is how the marital property will be divided. In these cases, it will be beneficial to work with a divorce lawyer in West Palm Beach. In Florida, determining how marital property is divided is generally a two-stage process, as a divorce attorney in West Palm Beach can explain. First, the court will need to determine which property is classified as marital property. Second, the court will determine an equitable division (equitable distribution) of this marital property.
Determining What Qualifies as Marital Property
Not all of your property will be subject to division at divorce. For example, the property you owned prior to the marriage may remain separate. Generally, only your marital property will be subject to division. One of our West Palm Beach divorce attorneys can explain to you exactly what is considered marital property, but this typically will include the assets that are earned or accrued during marriage. For example, salary earned during marriage and real property acquired together during marriage may all be subject to division.
On the other hand, property brought into the marriage may remain separate. Additionally, some assets like inheritances received during marriage may remain separate. If you have questions about a specific asset, you should consult one of our law firm’s West Palm Beach divorce attorneys.
Making an Equitable Split
Although a court may use an even 50/50 split as the default division of marital property, there are circumstances that warrant an uneven division. Distribution of marital assets is a very fact-specific determination that can depend upon things like how long you were married and economic realities following the divorce. Contact an experienced West Palm Beach Divorce Attorney at the Law Offices of James S. Cunha, P.A. if you have any additional questions.