PROPERTY DIVISION DIVORCE LAWYER
EQUITABLE DISTRIBUTION AND MARITAL VERSUS NON-MARITAL ASSETS
Florida abides by ‘Equitable Distribution’ with regards to property, assets, and debts. Equitable distribution means that all assets acquired during marriage are split ‘equitably.’ We call the assets and liabilities acquired during marriage- ‘Marital Assets.’
However, oftentimes, people bring assets INTO a marriage, and then disagree as to what assets were brought in, which assets are Non-Marital (this has to be plead for in your petition or counter-petition) and which assets are Marital. Should you wish to contest certain assets and property as non-marital, it is important that the Attorney knows about these issues at the beginning of litigation (or pre-suit settlement The determination of what is marital versus non-marital is a crucial aspect in your dissolution of marriage. Some issues are easier than others, but all require exhaustive proof and paperwork.
Furthermore, the value of non-marital assets rise during the course of a marriage. For instance, a person has an IRA that pre-dates the marriage, but during the course of the marriage the IRA’s value increases. Typically only the ‘during marriage’ value is considered a marital asset, and of course, the value of that is at issue, since these funds start small and increase over time.
Valuation experts may be hired with respect to Real Estate, stock options, 401Ks, IRAs, and businesses. Sometimes, a spouse may be hiding assets, which may require a forensic investigator to unearth the treachery.
Splitting of 401Ks, IRAs and Stock Options are also complex. They require a Qualified Domestic Relations Order to avoid premature tax consequences. Contact our office to discuss splitting of these types of assets. Your tax advisor will also be better able to explain the tax consequences of your dissolution of marriage (Mr. Moenckmeier is NOT a tax attorney!)
You should choose attorney Moenckmeier who is experienced in Property Division Issues within a Dissolution of Marriage so that we can establish what property needs to divided and what property to award you.
If your dissolution will have complex property issues, please contact Orlando Property Division Divorce Attorney Heiko Moenckmeier today to schedule your consultation now at 407.504.1384