Asset And Debt Division FAQs
It makes sense to understand some common points regarding asset and debt division when you go through a divorce in Florida. The experienced attorneys at Korshak & Associates can draw from more than four decades’ worth of combined experience to help you understand the process for dividing assets and debts in divorce.
Here are some commonly asked questions that we often encounter from our family law clients:
If Florida is an equitable division state, shouldn’t my spouse and I get exactly half the assets and half the debts each?
It is true that Florida has adopted the equitable division principle, but “equitable” in this case does not mean “equal.” Legally speaking, equitable means fair or just — so an exactly even split isn’t required, and it might be very difficult to achieve depending on the types of assets and debts involved.
It’s up to the courts to divide both the assets and the debts in an equitable fashion, so there is a fair amount of discretion involved at this stage. This makes it all the more important to have an experienced family lawyer on your side during the process. Our Orlando attorneys will work with you to make sure your rights are protected.
If my spouse and I can’t agree to a settlement, does that mean we have to have a trial?
No, not necessarily. Litigation might be the answer at that point, but it is not your only option. Many Florida couples choose mediation, in which a neutral third party — the mediator — helps you to work through the points that you can’t agree on. It’s often faster and less expensive than going to court. Your attorney can help guide you to determine what the best option for you and your family is.