Commonly Overlooked Assets to Consider Before Getting Divorced

Equitable Distribution

The law of Property Division in Divorces, Begins with a Presumption that the distribution or division of property should be equal, except as defined in the law. There are many factors that could affect how property is divided which must be analyzed.

Commonly Overlooked Assets to Consider Before Getting Divorced

The law in Divorce cases discusses how the equitable division of the assets occurs when two parties have decided to divorce. It is often one of the most contested parts of the process as there are specific laws that entitle spouses to property that the other party feels is their own. Property acquired during the marriage is mutual.

Gordon N. Shayne is an experienced divorce attorney who can help you determine if your property can be equitably divided.

What Is Marital Property in Florida?

Marital Property is any property acquired during the marriage with the exception of inheritance or any asset excluded by a prenuptial agreement, or which may have been the sole property of either party before their marriage.

• Shared investments (stocks, bonds, etc.)
• Homes purchased during the term of the marriage
• Cars purchased while married
• 401K benefits and any other compensation plans

Because marriage is a legal unification of two individuals, any property that grows in value over the course of the marriage can also be considered shared value, even if it is in only one party's name or interest. This means that property that you acquired before your marriage may be subject to property division, under specific circumstances.

Commonly overlooked assets that may be divided during divorce include:

• Gun Collections
• Animals
• Collections (coins, art, etc.)
• Frequent Flyer Miles
• Digital Media Purchases (music you've purchased online, etc.)
• Time Shares
• Club memberships
• Gifts given during the marriage

Another important financial element to remember is debt, such as mortgages, loans, or credit cards. While debt may be the primary motivator in a divorce, a skillful attorney can protect your best interests and make a smooth transition to financial independence. An attorney for over 35 years, Gordon N. Shayne is committed to pursuing your property goals during your divorce and works tirelessly to help you find a satisfying resolution.

Call an Attorney When a Property Dispute Becomes Heated

All assets deemed marital property under Colorado law will be subject to equitable division by a judge if an agreement cannot be reached between divorcing parties. Depending on the severity of the disagreement between the parties, temporary orders may be required to ensure that assets are protected.  In this case, it is essential to have an experienced attorney by your side to communicate your needs. Gordon N. Shayne has spent countless hours in the courtroom communicating his client's needs and protecting their best interests in order to reach a property division agreement for his clients. To protect your best interests, contact Gordon N. Shayne today.