Divorces can be nasty. Feelings of sadness, depression, anger, and frustration may be heightened among families. You may be concerned about your future. How will you begin a new life without your life partner? Where did you go wrong? Why is this happening to you?
Children may feel confused and lonely. And to make matters worse, you may be in a position to lose valuable assets that you have worked tirelessly for before and during your marriage. This stressful moment in your life does not have to be handled alone. Allow an experienced business and divorce attorney to protect your property and assets during this stressful time.
Business & Divorce Lawyer in Miami, FL
When two people wed, they often make vows to live, love, and protect one another. What is not always explicitly stated during these festive ceremonies is the concept “what is mine is yours.” In other words, marriage often involves sharing and mutual ownership of financial assets and responsibilities (i.e. paying taxes). During a divorce, assets are measured and often distributed among both spouses. There are, however, technicalities to this rule.
Prenuptial agreements make divorces much easier. These contracts are drafted and signed before a couple weds. They specify the assets that are owned by each spouse and how these assets will be distributed in the event that the marriage fails. In most cases, prenuptial agreements leave each spouse with what they had before they married. Once both spouses sign the agreement, the contract becomes legally binding. The rights and responsibilities outlined in the contract guides the divorce process.
Non-Marital & Marital Property
For people who do not have prenuptial contracts to protect their financial assets and liabilities, family courts will weigh non-marital property and marital property.
- Non-Marital Property: Non-marital property usually includes assets that are acquired before marriage. Most courts consider these assets to be independently owned. In other words, non-marital property usually returns to the spouse that rightfully acquired the assets before eloping.
- Marital Property: Marital property refers to assets that are acquired during a marriage. Most courts will assume that assets collected during a marriage were equally worked for. They will often distribute the assets equally.