West Palm Beach Property And Asset Division Attorney
If you are going through a divorce in West Palm Beach, Florida, property division is one of the main hurdles that you will face. It is important to understand your property rights and how to work your way through this process to protect your share of marital assets.
I am divorce attorney Tim Grice, and I can help every step of the way from the Law Office of Timothy L. Grice, P.A.. As a property division lawyer, I have nearly 20 years of experience with complex high-asset divorce and family law cases across the Tri-County region. With my engineering background, I bring creative problem-solving to every case. Call today for an initial consultation: 561-440-5390
How Are Property And Assets Divided In A Florida Divorce?
Florida is an equitable distribution state. This means assets may not be divided perfectly equally, but property distribution will instead be handled with a focus on finding a solution that the court believes is fair and just.
Each spouse’s separate property – assets they brought to the marriage, assets they inherited or specific gifts they received during the marriage – are typically safe, but marital assets must pass through property division. Marital property generally includes assets acquired during marriage, such as income, investments, real estate, businesses and vehicles.
What Happens To The Marital Home In A Divorce?
Complex property division cases often involve a marital home. There are three main options:
- The couple sells the home and splits the earnings;
- The couple keeps the home and owns it jointly after the divorce; or
- One spouse buys out the other spouse’s ownership share.
The best option differs from case to case, which is why it can be crucial to work with an experienced West Palm Beach property and asset division attorney. Dividing property can become more complicated when multiple real estate or investment properties are involved.
How Are Retirement Accounts Divided In Divorce?
Retirement benefits can often be divided during divorce through the use of a qualified domestic relations order (QDRO). This order considers the length of the marriage and when the benefits were earned, and then assigns a specific percentage to each person. After the spouse who is earning the plan retires, they may still have to split their retirement benefits with their ex.
If couples have joint retirement savings, such as investment accounts, these also need to be divided.
Call For A Consultation
To meet with an experienced West Palm Beach property and asset division attorney, just call my office at 561-440-5390 or use the online contact form to schedule your initial consultation. Based in West Palm Beach, I work with clients throughout the Tri-County region.