Most of us think that if something is in your name, then, it belongs to you, right?
Wrapping your head around the 'ins and outs' of marital property/assets/debts and how they are divided, can be somewhat confusing.
Did you know that.....
- Commingled Property (mixed/combined) refers to property that both parties, separately, brought to the marriage and have combined them into their marriage
- Defining property as 'commingled' can have a significant impact on the outcome of a settlement
- Florida is an 'equitable' distribution state and 'equitable' does not mean 'equal'
- A student loan taken out during your marriage is considered a shared debt in Florida
- If you purchased a home prior to getting married the home is considered 'non-marital' but the increase in the home's value is marital.
- Who gets the dog/cat/fish etc. If your pet is a 'non-marital' asset meaning it was acquired before the marriage, the pet will go to the spouse who originally purchased it.
- Debts acquired during a marriage will be divided 50/50, unless there are reasons why an equal division would be unfair.
Do Couples really get all twisted about dividing the 'stuff' in their home?
Oh yes, indeed!! The emotions surrounding divorce are, most often, intense and when emotions run high, reasoning tends to be absent. The idea of 'revenge' can often result in petty arguments about inanimate objects. And, if a family pet is involved, watch out!
In your effort to get your Jacksonville, Florida divorce moving in the right direction, be sure to contact our office to find out how we can help.