Jupiter Divorce – Division of Assets and Liabilities

One of the most complicated and emotional issues in a Florida divorce proceeding is the division of assets and liabilities (known as equitable distribution), particularly when the couple has been married several years, has purchased a home and other assets together, or perhaps even owns a business.

The court has discretion on how to divide up assets and liabilities in a Florida divorce. First it must determine which assets are marital and which are non-marital.

Non-marital assets are not subject to distribution and may include:

  • assets accumulated before marriage
  • inherited assets
  • assets gifted to one particular spouse

Marital assets are deemed to belong to both the husband and wife. Once the court has determined which assets are marital, it sets out to determine how to fairly distribute those assets. The same goes for debts, liabilities, and tax consequences.

George E. Gelb realizes that this is a difficult time for you. Your whole life is changing, and many people cling to their possessions during times like these. You need a qualified attorney to advocate for your rights and get you what you are entitled to so you can move on with your life. George Gelb has specialized in equitable distribution and other family law matters for over 30 years. He is ready and able to handle your case, no matter how complex.

Read more about Equitable Distribution here, including what counts as marital and separate property.

Contact George E. Gelb today. We look forward to assisting you!

Family Business? Check out this article about whether it could be split in the divorce.