Givens Givens Sparks, PLLC Articles Equitable Distribution of Property and Assets

Equitable Distribution of Property and Assets

By Givens Givens Sparks, PLLC  Feb. 4, 2011 10:03p

One of the most complex and emotionally challenging issues that can and will arise during divorce proceedings is the issue of property division. In marriages, there are two basic types of property, which include marital property and sole or separate property. During the process of property division (sometimes known as equitable distribution) the properties, assets and debts of both parties are accounted for and divided between being marital property or separate property. The court will then calculate the financial needs of each spouse based on many factors including other divorce situations such as with child support, alimony and child custody. With the assistance of a Tampa divorce attorney on your side you can ensure that your case goes as well as possible and that you are treated fairly during the distribution, including protecting items that are important to you or are exempt from the division.

Marital property is defined as all properties, assets or holdings acquired during the course of the marriage, whether or not the property in question is in the name of one or both spouses. This can include homes, vehicles, and other financial holdings or properties. Separate property is all property that belongs individually to each spouse and all items that are exempt from division such as inheritance, gifts and objects or properties acquired before the beginning of the marriage.

Property Division Lawyer in Tampa

If you believe you are heading for a divorce or are preparing for a divorce you should acquire legal guidance from an experienced family law attorney who understands the intricate laws regarding property division. At Givens Givens Sparks, PLLC, we have an expert knowledge of divorce laws and can help you present the best possible case for your situation, giving you your greatest chance of receiving the distribution of property outcome that you are hoping for.

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