Equitable Distribution and Property Division Attorney in Tampa, Hillsborough
Property division, and similarly debt/liability division, is an issue in almost every divorce case and must be decided by the judge before the judge can address the issue of alimony.
Equitable distribution is the legal term used for dividing:
Before equitably distributing property and liabilities, the court must first set aside all non-marital assets and liabilities, which can be a complicated task.
There is a presumption in favor of an equal distribution of all marital assets and liabilities; however this presumption can be overcome by presenting relevant evidence to the court. For example, if one of the parties to a divorce case has wasted marital funds or divested himself/herself of marital assets, the other party may be entitled to an unequal distribution of assets.
It’s important to note that just because an asset or debt is in one person’s name alone does not mean that the asset or debt is non-marital.
For instance, if there is a bank account in one spouse’s name alone, that doesn’t mean that this bank account is non-marital. The bank account may still be subject to equitable distribution by the court.
Equitable distribution is a complicated aspect of divorce cases.
Property Division plays a central role in a divorce case, namely, as it relates to Equitable Distribution. Before dispersing properties and or settling on any liabilities, the court will be tasked with setting aside all non-matrimonial resources and liabilities, which can make for an entangled undertaking.
There is an assumption for an equivalent dissemination of every single matrimonial resource and liability; however, this is an assumption that can be limited or expanded by providing appropriate documentation to the court that will serve to illustrate any inconsistencies. For instance, in the event that one of the parties to the divorce squandered the matrimonial finances or hid any matrimonial assets or resources, the other party might be able to qualify for an unequal distribution of the marital assets.
It is critical to take note of the fact that in light of any financial advantage or obligation in one’s own individual name, that does not outright imply that the benefit or obligation is non-matrimonial.
For example, if there are resources or assets in only one partner’s name, that absolutely does not imply that those finances, resources or assets are not matrimonial assets. The court may see fit to distribute the latter among both parties.
Fair distribution is speculative until you speak to an experienced attorney and it is one of the most complicated aspects of a divorce.
Contact Mindi Lasley, an experienced Tampa divorce lawyer to guide you through the intricate process of asset and debt distribution.
Mindi Lasley is an experienced property division attorney with the expertise and resources to provide you with step-by-step legal representation in order for you to obtain the best possible results from your case.
Property Division attorney Lasley is committed to offering each of her clients with comprehensive legal support, and she will always let you know where you stand. She will inform you of what your legal options are and how best to move forward to protect your rights and best interests.
Contact Tampa Family & Divorce Lawyer Mindi Lasley today for a consultation to discuss your case. We are available now to speak with you regarding your legal needs.