Being Fair When Dividing Assets

Divorce can be, and almost always is, a very tumultuous experience. When making the choice to be married, no one thinks that everything will come apart years down the road, but the fact is that many couples are realizing they would be better off on their own.

Many divorces are handled quite civilly, and fights are kept to a minimum. Regardless, one area that is always the most contested is when it comes to dividing assets. Naturally, as individuals gather possessions throughout their lives, they want to keep as many of them as they can. The problem is exacerbated when it comes to couples who have been together a long time, and have more and more purchases they made together.

Of course, the term “assets” includes more than just physical items. There are also retirement accounts, real estate holdings, pensions, stocks, and bank accounts.

According to Florida law, assets are divided by “equitable distribution,” which means that assets are divided proportionately, rather than just split 50/50.

Fortunately, this gives couples a chance to work out deals for splitting assets. Some couples will agree to a 50/50 split based on value of the item, but some couples will work out more one-sided deals, such as agreeing to let one party take most of the possessions if they agree to monthly spousal support payments.

The law allows for those who are willing to be flexible the ability to do so. Make sure that you discuss all potential options with your divorce attorney as well as your spouse. If both parties remain as calm as possible, and keep all options open, the divorce process can be rather painless and efficient.

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