How Are Assets Divided In An Uncontested Florida Divorce?
While no divorce is completely stress-free or without complications, uncontested divorces, which don’t involve litigation, tend to be one of the least stressful and least expensive ways to end a marriage. Part of what makes this process so much simpler, however, is that the parties involved are required to come up with their own settlement agreement in an out-of-court setting. This means that a judge isn’t involved until the end of the proceedings, which can leave a lot of pressure on a couple to come up with a property division agreement that is fair.
Dividing Marital Property Equitably
While all divorces are different, there are specific guidelines by which couples must always abide. For instance, whether a divorce is contested or uncontested, couples must split up all of their marital assets, or assets that were acquired by either spouse during the course of the marriage, fairly. Separate assets, or property acquired by either spouse before the marriage (or as an inheritance or non-spousal gift during the marriage) should, however, remain in the sole possession of the original owner.
Basically, this means that anything a person owned before a divorce will typically remain in their ownership. This includes everything from vehicles and bank account funds to retirement accounts and personal possessions. Marital, or joint property, regardless of whose name is on the title or deed, on the other hand, will need to be divided equitably or fairly. What qualifies as a fair agreement for a particular couple will depend on their particular circumstances, including their expenses.
Accounting for Expenses
When trying to come up with a property settlement agreement that is fair to both parties during an uncontested divorce, couples will need to take a number of factors into account, including:
- What each party’s incomes will be moving forward;
- Each party’s monthly expenses;
- Each party’s debts; and
- Whether one of the parties will have primary custody of the couple’s children.
Any settlement agreement must involve an assessment of these factors. Who keeps the family home, for instance, may be partially dictated by who has primary custody of the couple’s child. One spouse’s retaining of the house will in turn, help determine whether that party should be given a greater portion of a different asset to account for the loss of the home. Contending with all of these issues can be complicated, which is why it can be so helpful to have an attorney on your side when negotiating a property settlement.
Call Sandra Bonfiglio, P.A. for Help with Your Uncontested Divorce
Every marriage is different, so every divorce will be different too. If you and your spouse have agreed to pursue an uncontested divorce, you can generally expect a quicker, simpler, cheaper dissolution. This does not, however, mean that uncontested divorces should be taken lightly, so if you still have concerns about how you will divide up your marital assets, please call experienced Fort Lauderdale property division lawyer Sandra Bonfiglio, P.A. We can help you negotiate a settlement agreement that works for both you and your spouse. Call us at 954-945-7591 to get started.
Sources:
forbes.com/advisor/legal/divorce/florida-uncontested-divorce/
leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.075.html
