If you are preparing to divorce in Florida, you will necessarily go through the division of your marital property. In Florida, assets are deemed as either marital or nonmarital property. Marital property will be divided equitably between spouses, while separate property will remain the property of the spouse who brought it into the marriage.
When you have worked hard for many years, you and your spouse may have built up significant assets that need to be divided when you decide to get a divorce. You might each have retirement accounts, joint and separate bank accounts, stocks, real estate holdings, business interests and other asset types. You may be uncertain of the value of your holdings.
Florida readers are likely familiar with high-profile couple, Michael Moore and Kathleen Glynn. Moore is known for his activist documentaries, such as Farenheit 9/11 and Bowling for Columbine. Glynn, his wife of 23 years, produced several of the documentaries.
Florida residents may remember hearing in June 2013 that Rupert Murdoch, the chairman and CEO of 21st Century Fox and News Corp., filed for divorce from his third wife of 14 years. Now the media mogul is finalizing the divorce with a negotiated settlement. The terms of the settlement have not been released to the public, but there are some rumors as to how the assets are being divided.
Although many divorces in Florida and elsewhere start off on a relatively amicable basis, couples frequently are unable to agree on certain issues. On such occasions, the testimony of experts is often relied upon to come to a determination. These professionals can be separately retained by either or both spouses or appointed by the court. In either case, expert testimony is considered reliable and admissible, and there are several types of experts that often play a role in these matters.
Married couples in Florida may find themselves sharing a myriad of belongings, ranging from bank accounts to real estate. Deciding who gets what in the event of a divorce can lead to quite a conundrum. There's several things which may be taken into consideration, including homes, vehicles, retirement plans, stock options and more. There's many common misconceptions regarding distribution of marital property and what is considered separate property versus marital property.