Complex Property Division and Divorce in FloridaEquitable distribution of assets and liabilities can be the most difficult part of a divorce case when the parties are self employed and own their own businesses. Additionally, if the parties have accumulated substantial assets including real estate, brokerage accounts, and retirements accounts, the divorce proceeding become exponentially more difficult. The importance of the division of marital property cannot be overstated, because, unlike child support payments, it is next to impossible to modify a property settlement after the divorce decree is entered. Absent a showing of fraud, something that may be quite difficult to demonstrate, a court will not permit a change in the division of marital assets. Marital Liabilities and DebtsIt is also important to account for all the assets and debts of a marriage. Credit card debt and other loans can be divided between the parties, but if you are a co-signer on any account and your ex-spouse stops making payments, the creditor will expect you to begin making payments. It is more cost effective to work out all the details of these matters now, saving yourself from having to sue your ex-spouse to enforce the settlement agreement. Real EstateUntil recently dividing up real estate was not a complicated matter. Generally speaking the parties purchased real estate during the course of their marriage and during their divorce, they would sell it and divide the proceeds and move on. Today's real estate market, parties are finding they cannot sell their homes and many circumstances they have negative equity in their homes, in other words they owe more money on their house than its is worth. Sometimes the parties agree to a "scorched earth" policy, where they decide they will not struggle to make the mortgage payment and live in their home until such at time they are forced to leave by the lender. They save as much during that time as possible, so they can move out when the bank forecloses. This of course destroys both parties credit, but that might be inevitable. Many parties own unimproved lots, which they cannot sell because no one is interested in buying; often the parties agree to own them as tenets in common and they each will pay 50 percent of the taxes until such a time as they can sell it. At the Law Offices of Mark Abzug, we assist clients with complex property division matters. If you are facing divorce, contact our Coral Springs lawyer by calling (954) 753-1003. Complex Property DivisionAt the Law Offices of Mark Abzug, we provide legal services to divorcing couples facing complex property division. We have experience helping clients in the division of the following assets:
Partial Equitable DistributionFlorida is an equitable distribution state, meaning that property is not divided 50/50, but rather based on each spouse's specific needs and contributions during the marriage. A new law now allows for the partial equitable distribution of property, which allows the courts to assign the division of certain marital assets before the case is finalized. This will allow divorcing couples to gain access to their assets at an earlier point in their case. Contact UsFor divorce services throughout Broward County, contact our law offices by calling (954) 753-1003. Free consultations are available. The Law Offices of Mark Abzug, P.A. serves clients throughout Florida, including Coral Springs, Margate, Tamarac, Coconut Creek, Pompano Beach, Parkland, Boca Raton, Boynton Beach, Delray Beach, Palm Beach, Palm Springs, West Palm Beach, Fort Lauderdale, and Sunrise, and the counties of Palm Beach County and Broward County. |
Complex Property Division
Law Offices of Mark Abzug, PA
2801 University Drive
Suite 203
Coral Springs, Florida (FL) 33065
Phone: (954) 753-1003
Fax: (954) 753-1699