Tampa Asset & Debt Division Lawyer
Unlike community property states, Florida operates under the equitable distribution model, which allows property to be divided fairly between spouses. The first step in the process is for the court to award each individual their personal non-marital property – assets they had before the marriage and retained which did not come to be marital property.
When the judgement is made of what is non-marital property, attention then shifts to what is marital property. This determination is made by considering:
How long the marriage lasted;
What each party contributed to the marriage;
How much one party contributed to the career or education of the other party;
Each spouse’s contribution to the education and care of the children as a homemaker;
The desire of either party to retain an asset, such as a business, without interference from the other party; and
Whether or not it is reasonable to maintain the family home for the sake of children that are products of the marriage.
There are other factors as well, but as you can see, the process can be complicated. We have wide-ranging experience handling such matters. Contact a Tampa asset & debt division lawyer to learn more about the services we provide and how we can help you.
Equitable Asset and Debt Division via the Discovery Process
A tool that is imperative in determining the entirety of assets and debts in a marriage is the discovery process. “Discovery” is legal terminology used to describe the method utilized to acquire information that will be relevant to your separation or divorce.
One method of discovery is the sending of interrogatories from one spouse to the other or they are delivered to the spouse’s lawyer if he or she has representation. A series of questions are asked that are intended to lead to information related to bank accounts, real estate, credit accounts, loans, etc. Written questions will be submitted until each part is satisfied that they have a firm understanding of every asset and debt the opposing party has ownership of.
Another type of discovery we use is the Request for Production of Documents. This is when we ask for physical objects like bank statements. Or we submit the request that the opposing party make certain property available for inspection. Our experienced lawyers will customize these appeals to your case. Only requests that are appropriate for your case will be submitted.
Assistance with Asset and Debt Division in Tampa
As expected, there is a great deal of litigation that occurs when it’s time to divide assets and debt. After arranging a mediation, our lawyers here at The Pawlowski//Mastrilli Law Group use their years of experience to facilitate an agreement for the distribution of assets. Don’t hesitate to reach out to us today for assistance with your case.