In the state of Florida, the distribution of debts and assets can be an area of concern for many divorcing couples. Making sure that both parties can maintain financial stability during and after the divorce proceedings can relieve some of the stress involved in this process. If you need the services of a Hollywood Florida asset distribution lawyer, the Law Offices of Ben I. Farbstein can provide you with the expert help you need to determine the right solutions for your financial needs and your specific situation.
In general, assets acquired and debts incurred during the marriage are included in the overall calculation of marital assets and debts. Marital assets may include real estate holdings, the appreciation of these properties, gifts between the spouses, retirement and pension plans, items jointly titled by both spouses, vehicles purchased and any other property of value acquired by either partner during the marriage. Debts incurred during the marriage are also considered when determining the equitable distribution of financial resources in the divorce process. Your Hollywood Florida asset distribution lawyer can provide you with expert support in ascertaining which items should be included and which can be omitted from your list of marital assets and debts.
Items of value, real estate and other assets acquired by either spouse individually prior to the marriage are considered non-marital assets and remain the separate property of the owner after the divorce. There are some exceptions, however. Income-producing properties may be considered marital assets if, during the marriage, both spouses treated the income as their joint property. Debts incurred before the wedding can also be classified in much the same way. If both spouses worked to pay them during the marriage, they may be considered marital debts under Florida law. Working with a qualified Hollywood Florida asset distribution lawyer can be the best way to distinguish marital debts and assets from non-marital ones, allowing you and your spouse to proceed in the most practical way to deal with these issues.
Navigating the distribution process for marital and non-marital assets and debts can be a real challenge. The Law Offices of Ben I. Farbstein can help you through this process and can provide you with the professional legal guidance you need to ensure that your financial matters are divided equitably and according to the letter of the law. Call us today at 954-962-5900 to schedule an appointment with a Hollywood Florida asset distribution lawyer in our office. We look forward to the chance to serve you.
