Skilled Family Law Counsel
Dedicated to Professional Excellence
Over 35 Years of Trial Experience
Division of Property and Assets in Florida
At the Lane Law Firm, P.A. we have extensive experience handling the complex legal, financial and taxation issues that are attendant to the division of assets in dissolution of marriage proceedings. We utilize our decades of experience, our legal and financial acumen, and our meticulous attention to detail to vigorously advocate on behalf of our clients and protect their financial interests.
We are skilled negotiators and litigators, who represent clients in all aspects of property division in a thoughtful, strategic and cost-effective manner. Our law firm provides a high level of personal service, and handles every matter with dedication and discretion.
Issues incident to the division of property, include the identification, valuation and division of: business interests, real estate, intellectual property, professional practices, investment accounts, inherited wealth, deferred compensation, executive compensation, collectibles, trusts, jewelry, art, antiques, classic automobiles, yachts, and overseas accounts.
Our law firm works with a network of skilled professionals including: forensic accountants, economists, real estate appraisers, business valuation experts, pension evaluators, private investigators, jewelry and art appraisers, financial planners, actuaries, vocational experts, and attorneys who practice in the areas of real estate, corporate law, taxation, and trusts and estates.
To schedule an appointment with an experienced property division attorney, call our office today at (561) 363-3400, or contact us online. We have office locations in Boca Raton, Wellington and Palm Beach Gardens, Florida.
Division Of Property And Assets - FAQs
Specific legal rules guide the division of property and assets in Florida. The process focuses on dividing what the law calls “marital property”.
At Lane Law Firm, we are well acquainted with how complex the process of property division can be in Florida divorce cases. Here are some commonly asked questions about how Florida law handles property division in divorce cases:
Florida utilizes equitable distribution to divide assets and debts in divorce. The court separates property into two types: marital property and nonmarital property. Marital property includes assets and debts gained by either spouse during the marriage.
Nonmarital property consists of assets owned before marriage or received by gift or inheritance by one spouse alone. The court only divides marital property. Nonmarital property usually stays with the original owner. The division aims for fairness but does not require a 50/50 split.
Yes, nonmarital property can turn into marital property through commingling. For example, if one spouse receives an inheritance and places the funds into a jointly titled bank account, the court may choose to treat that bank account as marital property.
Similarly, where one of the parties owns a home prior to the marriage, and the proceeds from the sale of that home are deposited into the parties' joint account, a court may determine that those proceeds are marital property. Courts look at how property is used and whether both spouses share access to or contribute to it during the marriage.
Courts start with the premise that an equal division of marital assets and debts is appropriate. However, they may adjust the split based upon several factors. These include each spouse's contributions to the marriage, such as through homemaking or childcare, and each spouse’s financial situation and ability to earn income. The length of the marriage plays a role, along with any sacrifices one spouse made to support the family.
Courts may consider the need to keep certain assets, like a family home, for the benefit of children. They also review whether either spouse utilized marital assets for nonmarital purposes or hid marital assets after divorce proceedings began. The court aims to make the division fair given the circumstances.
For more information or to schedule a consultation, please contact us. We serve clients in West Palm Beach, Wellington, and Palm Beach Gardens, Florida.
Client Reviews