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Property Division Archives

Fair market value of real estate matters in divorce

One of the challenges of going through a divorce is dividing the property. If you have real estate, you need to know a few basic points so that you can be sure you're doing what's best for your needs. One thing that you need to realize is that there are many numbers that apply to real estate.

Equitable distribution takes specific points into account

One thing that surprises many people who are going through a divorce in Florida is that the division of property isn't handled based on what's equal. Instead, this state uses the concept of equitable distribution. In the simplest of terms, this means that things are divided based on what's fair, even if that doesn't mean that it is exactly equal.

Retirement accounts are only one asset in property division

Many people work hard so they can save for retirement. It is unpleasant to think that someone will be able to strip that money away from this, but this is what might happen in a divorce. If you have any retirement accounts, you will likely have to split them during the property division process. The exception to this is if there is a prenuptial agreement that covers these accounts.

Know important information about Florida property division

The property division process is one that is often complex. The more you have to deal with, the more difficult it might be. It is imperative that you take the time to learn about some of the factors that impact the situation. This can change depending on your circumstances, so you have to find out exactly what options you have.

Prepare for property division mediation before the first session

Dividing marital property is a lengthy process that can be very complex, especially when there are considerable assets involved. When you are going into the mediation sessions for these assets, you need to be sure that you are properly prepared. One important rule that you should always remember is that nothing is certain when it comes to property division until the paperwork is completed at the end of the process.

Plans for your future might impact property division decisions

When your marriage ends, you have to think about where you want to go from there. This isn't always easy to think about, but you need to have at least a general idea of what you want to happen. This idea can help you determine how to handle different aspects of the divorce so that you can make decisions that are in your best interests.

Know the classifications of assets during a divorce

Property division matters during a divorce can be difficult to handle, but knowing what to expect and learning about the options can help you as you go through it. In Florida, the premise that is used for property division is equitable distribution. This doesn't mean that everything will be equal but that it will be fair.

Property division: Costs versus benefits must be considered

Going through a divorce means that you have to divide up the assets and liabilities of the marriage. When you are trying to work out the property division terms, you will have to think about the specific ways that each item can either harm your future or help it. Your goal is to be able to hang on to the things that will help you as you rebuild your life.

Small and large: Property division covers everything

Dividing property during a divorce is challenging, but with proper thinking and planning, you might be able to figure out what is going to work for your situation. The most important thing for you to remember right now is that you have to make decisions that set you up for financial success in your single life.

Property division can impact you well into the future

The property division process during a divorce can be one of the most difficult aspects of leaving the marriage. Each party likely has an idea of what they want to walk away with. When both adults agree on this, the process is easy. When you both want to the same assets, there can be a problem.