Jacksonville Property Division Attorney
Property Division Lawyer, Sam Jubran Proudly Serving Jacksonville FL
An individual facing a divorce is undoubtedly wondering how their future will change because of it. And the matter of their individual property and how it will be divided is one of the most crucial aspects of a divorce proceeding. When facing Property Division, it’s vital to have an attorney advocating for your rights and the maintenance of the assets you’ve worked so hard to attain. Our Jacksonville property division attorney understands the multi-faceted issue of Property Division, and will work tirelessly to protect your assets.
What is Considered Property?
When dissecting the definition of “property,” it can become daunting because it’s so extensive. Property includes some of the following:
- Real estate
- Bank accounts
- Retirement accounts
- Sick or vacation leave
- Intellectual property (patents, copyrights)
- Stock options
- Insurance benefits
- Liabilities- student loans, credit card balances, car payments, etc.
This is only a small portion of the components that are considered a couple’s property. So considering that all these items must be fairly divided upon a divorce, it’s no wonder divorce attorneys exist. You can’t mistakenly attempt to face this sizable task alone or place it in the hands of an incompetent attorney. The attorneys at A. Sam Jubran’s office can methodically sort out all of a couple’s property and make sure it’s fairly and equitably divided.
Marital Vs. Nonmarital Property
Nonmarital Property is the property that was acquired before the marriage such as a spouse’s inheritance or an excluded asset in a prenuptial agreement. Sometimes Nonmarital Property can be converted to Marital Property, such as a joint bank account that both spouses deposit into or additions to a home made during a marriage.
Florida attempts to divide Marital Property through an equitable distribution, meaning fairly and evenly between the two spouses. The process by which the court divides this property is summarized as follows:
- All marital and nonmarital property is identified by the court.
- Each type of property is identified and grouped together. The court uses the date of marriage and the date a valid separation agreement or dissolution of marriage was filed, to determine the dates used for classifying the property as marital or nonmarital.
- The court values the marital property.
- The marital property is distributed by the court.
How the marital property is divided is easier said, than done. The court relies on several different factors to make this determination, including the contribution each spouse made to the union (financial or otherwise), the duration of the marriage, the economic circumstances of each spouse, each spouse’s desire for certain items, and a spouse’s qualification to retain certain items. Request a free consultation with the Jacksonville Property Division Attorney at our firm to find out more.
A couple’s liabilities, or debts, that were accrued during their marriage are also subject to division by the courts. Similar to a couple’s property, liabilities are divided into marital and non-marital categories. Liabilities that are determined to be non-marital are officially left to the spouse who incurred them. Marital debts are divided jointly, at the court’s discretion. The last thing a divorcing spouse needs is a substantial award of debt as they’re facing a new life as a single individual. A Jacksonville property division attorney understands the vulnerability of this critical time and will work to lessen your financial burden, as the division of liabilities is calculated.
Don’t Wait! Call Our Jacksonville Property Division Lawyer, Sam Jubran
An attorney is essential in advocating for your rights to your property and making sure your settlement is fair and equitable. The Jacksonville Divorce Attorneys at A. Sam Jubran’s office have helped countless individuals walk away from a device settlement with an ample and fair amount of their marital assets. Unlike child custody, alimony, or child support, the division of property is final and can’t be modified once it’s decided. Because of this unique delineation, the importance of hiring a capable attorney is crystal clear. Our Jacksonville property division attorney has copious experience in advocating for their client’s property and making sure it’s a smooth process. Call us today for a free consultation!