Divorce can bring on many different challenges and some people may have an especially hard time working through the end of a marriage, such as those with children. Moreover, people who have a high net worth or significant assets may worry about how their divorce will impact their finances. Even people with a moderate amount of assets may worry about property division for various reasons and it is important to prepare for how your marital property may be split up. For example, you might benefit from going over some factors that courts consider when making decisions regarding property distribution.
According to the Florida Legislature, there are all sorts of factors which courts will consider when deciding how to distribute marital property. For example, if a spouse purposely destroys marital assets shortly before a divorce, or wants to keep certain types of property and the other party has no problem with this, the court may use these factors when making a decision. Each person’s financial state and contributions during the marriage can also influence how marital property is divided. In fact, the amount of time that a couple was married can even affect how marital property is split up.
Ultimately, there are many factors that can play a role in how marital property is distributed and there are many examples of marital property which is subject to division. Property division may have a huge impact on your life both during and after the divorce process, so you should try to prepare carefully.