Florida law requires an equitable distribution of marital property in a divorce. A divorce attorney Boynton Beach can help you through one of the most disputed issues in settlements.There are two important questions here:
- What is equitable distribution?
- What is included under marital property?
This does not mean an ‘equal’distribution. Instead, it means a fair distribution of property for both spouses. An equal and fair split is the most desired for all parties.
What is included under marital property often becomes a dispute. Ultimately, it is up to the court to decide this. According to the law, marital property is:
- Assets acquired during the marriage
- Property held as tenants by the entireties as a joint ownership. These are properties available only to married couples.
- Any increase in the value of non-marital assets because of work or funds spent by the other spouse or both spouses. Marital funds used in any enhancements will be counted.
- Gifts given to one spouse by the other
- Certain retirement benefits
All in all, marital property can have a wide range of things. It is important to hire a divorce attorney Boynton Beach to help guide you through this process.