Anyone can be affected by divorce, regardless of their financial status, length of relationship, or number of children. As such, many Floridians find themselves facing challenging legal situations related to their marriage dissolutions. Sometimes these matters pertain to child custody and co-parenting, but even couples without children have to deal with property division. The outcome of this issue can have serious consequences, too, oftentimes setting the financial bounds within which an individual must remain after his or her divorce is finalized.
Property division is certainly under the spotlight in the divorce of singer Adele and her husband. According to reports, Adele may be worth as much as $180 million, with some of that money tied up in real estate. Since the couple didn’t execute a prenuptial or postnuptial agreement, their property may be subject to division in accordance with state laws unless they are able to reach an agreeable resolution on their own. This very well may be the case, too, as reports indicate that Adele has already given her husband a property worth $600,000.
While California is a community property state, meaning that marital property is divided evenly during the marriage dissolution process, Florida deals with marital property in an equitable, or fair, way. This means that one party to a divorce may receive more property when a divorce is finalized if the facts warrant it. This means that Florida property division is open for legal argument. The length of a marriage, sacrifices made during the course of the marriage, and the standard of living enjoyed during the divorce may all play into property division determinations.
There are a number of factors a court may consider when determining property division matter. Yet, this process may not even be reached if the parties can negotiate an agreement that they are comfortable with. Regardless of which way the matter is resolved, though, Floridians who are facing divorce and prenuptial or postnuptial agreement issues should consult with a family law attorney of their choosing.