Tampa Property Division Attorney
Even after just a very short marriage, spouses tend to acquire quite a lot of property. The longer the marriage, the more assets (and debts) the spouses are likely to build up. What happens to all that property if the spouses decide to divorce? Who is responsible for the debts? Do the spouses just decide amongst themselves how to divide up all the marital property? That is one possibility, but it’s not always that easy, and it’s not always possible for the spouses to agree. As an experienced Tampa property division attorney, Laura A. Olson can help you negotiate a fair marital settlement agreement that meets your needs. If an agreement cannot be reached, Laura A. Olson is prepared to utilize her years of courtroom experience to protect and defend your rights and interests if litigation becomes necessary. Learn more below about how property is divided in Florida marriage dissolutions, and contact The Law Office of Laura A. Olson, P.A., for help with the property division in your Tampa divorce.
How does marital property get divided in a Florida divorce?
The law in Florida requires an “equitable distribution” of marital property. Equitable means fair or just, so an equitable distribution does not always mean an equal 50/50 split. Although the court starts with a presumption that an equal distribution is called for, the judge can consider any relevant factor that might justify an unequal distribution. In fact, the law lists ten such factors, including:
- The contributions each spouse made to the marriage, including earning income as well as contributions as a caretaker for the children or as a homemaker.
- The economic circumstances of each party
- How long the marriage lasted
- Whether either spouse interrupted their career or education for the sake of the marriage
- How much one spouse may have contributed to furthering the career or education of the other spouse
- Whether one party should retain an asset independent of the other party, such as an interest in a business or professional practice
- How important it is to let the custodial parent keep the marital home for the sake of the children
- Whether either party intentionally depleted marital assets after the divorce was filed or within two years before filing
What is marital property?
Generally speaking, marital property is all assets and debts acquired during the marriage by either party. In contrast, separate property includes all assets and debts a party had before marriage, as well as gifts or inheritances a party received during marriage specific to that person. There are many different ways that separate property can become marital property, however, and the characterization of property as marital or separate can get quite complex.
How does a family law attorney help with the property division in a divorce?
The Law Office of Laura A. Olson, P.A., can prove instrumental in the property settlement in your Tampa divorce in several ways. For one, we can make sure all property is located, properly characterized as marital or separate, and appropriately valued. Some spouses have been known to go to great lengths to hide assets from the other party or disguise property as separate when it is really marital. Tampa family law attorney Laura A. Olson uncovers hidden assets and also makes sure they are valued correctly. Laura has experience in high net worth divorce cases and understands the complicated areas of business valuations or the proper use of qualified domestic relations orders (QDROs) when necessary to divide a retirement or pension plan. Finally, if you or your spouse are arguing for an unequal division of property, we can build a strong case based on the relevant factors to protect your interests in the split.
Get the Result You are Looking for in the Property Division in Your Tampa Divorce
For help with the property division in your Tampa divorce, call The Law Office of Laura A. Olson, P.A. at 813-222-0888 to discuss your concerns with an experienced and successful Tampa asset division attorney.