Division of Assets and Valuation

DivisionSometimes people enter a marriage with pre-existing assets or debts. It could be a family heirloom such as your grand-mother’s ring or an IRS tax lien. These are known as non-marital assets. Marital assets and debts are generally those that have accrued during the marriage. A house that was purchased during the marriage with joint funds is an example of a marital asset. The mortgage that encumbers that brand new house is a marital debt. When parties divorce, those assets and debts must be valued and divided. This is a complex area that requires the understanding of the Florida laws that govern equitable distribution and will allow you to keep the property you are entitled to have by law.

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