Getting A Divorce In Tampa? Follow Our Marital Property Division Checklist

Getting a divorce in Tampa is undoubtedly one of the most stressful times in your life. In addition to all the emotional aspects surrounding the loss of your marriage, there are important practical concerns that need to be addressed. One of the most impactful is marital property division. To protect yourself and your rights, our Tampa divorce lawyer explains some of the laws that apply and offers a divorce property and asset checklist to follow.

Florida Laws Governing Marital Property Division In Tampa

When getting a Tampa divorce, there are practical issues that must be resolved between you and your spouse before a judge can issue a final divorce order. One of these concerns is the division of marital property and assets.

Marital property and assets include anything earned, acquired, or otherwise accumulated during your marriage. Under the Florida Statutes, all of it must be divided on an equitable, not equal basis. This means that rather than just ordering a 50/50 split, the judge in your case will carefully consider a variety of factors before issuing a final order. This includes:

• The length of your marriage;
• The current earnings and income potential for each party;
• Any premarital assets they entered into the relationship with;
• Any marital misconduct or other behavior that caused assets to be depleted;
• Any other agreements made between the spouses and potential tax implications.

Tampa Marital Property Checklist

As part of the process for filing for a divorce in Tampa, you will need to submit financial declarations through the Hillsborough County Family Court. This includes a list of all property and assets owned by you and your spouse. Being thorough when creating this list is important.

Failing to include certain items could leave you with a considerably reduced divorce settlement. To protect your rights, follow our checklist for marital property subject to equitable division in Tampa divorce proceedings:

• Homes, rental properties, land, and timeshares;
• Cars, trucks, motorcycles, campers, and recreational vehicles;
• Household belongings, including furniture, antiques, and artwork;
• Stamps, coins, books, guns, or other collectibles;
• Hobby and craft supplies;
• Personal items of value, such as jewelry;
• Shares in businesses, inventory, and supplies;
• Pensions and other retirement benefits, such as a 401k;
• Money in various checking and savings accounts;
• Digital assets, such as websites, domain names, and cryptocurrency;
• Proceeds from life insurance policies, investments, commissions, or sales of property.

When making a thorough list of all marital property, be alert for potential hidden assets. These can often be located through county property records and prior-year tax returns. It is not uncommon for a spouse to attempt to sell or transfer certain items to avoid having them subject to marital property division.

Request A Consultation With Our Tampa Divorce Lawyer Today

Going through a divorce is one of the most stressful times in your life. Having our experienced Tampa divorce lawyer by your side makes it easier and helps to ensure your rights are protected. For trusted legal guidance, contact Bubley & Bubley, P.A. and request a consultation today.

Sources:

hillsclerk.com/court-services/family-law

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.075.html