Untangling a marriage can be a tricky endeavor for even the most cooperative divorcing couple. Property division has the tendency to bring out less than the best in some people, especially when faced with potentially losing an asset that has a significant emotional value. While some Florida couples choose to create a prenuptial agreement before marriage in order to eliminate any possible issues during asset division, current laws allow those without prenups to divide their marital assets in an equitable manner.
Barring any unique, extenuating circumstances, the division of marital assets is expected to result in an equitable share for each person. However, this does not mean that marital property is simply split 50/50, but that each person in a divorce will receive a share that is fair. This is an especially important detail to remember when dividing property, as a judge must first sign off on an agreement before it can be legally implemented, and failing to create an acceptable arrangement can drag out the process.
Debts are surprisingly helpful for creating property divisions that are considered fair. When one person takes assets that each have high net values, it can be difficult to create a roughly equal or fair share for the other party. However, since it is the net worth of the divided property that is the key to creating equitable shares, the individual taking the more valuable property can create a fairer share by also taking on a larger amount of the debt.
For most Florida couples, negotiating property division alongside their respective counsels is easy enough. Complex assets can pose more of an issue that might necessitate outside help from a third-party mediator, and some couples ultimately require a judge to issue the final agreement rather than creating it themselves. No matter how the agreement is established, couples can usually be sure that they are receiving an equitable share of the marital assets that is considered fair in the eyes of the law.