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.