Division of Property
One of the most important parts of a divorce settlement is the division of property. In many cases, married couples own property together and, as such, must decide who gets what when the couple is no longer together. This can be a difficult process, and complications may arise when individuals try to settle their property division issues without the assistance of an experience divorce lawyer.
If you and your spouse are considering divorce, an experienced attorney can help you make fair arrangements. Contact the Fort Lauderdale divorce lawyers of Eric N. Klein & Associates, P.A. at 954-580-8080.
How Property Division Works
When a married couple owns property together, the spouses usually do not want to own the property jointly after they get divorced. As such, these assets must be divided. Commonly divided property includes:
- Homes
- Automobiles
- Savings accounts
- Other material possessions
Only property that is jointly owned may be divided in a divorce settlement. Couples that were married for short periods of time may not own any joint property, meaning that no property division will occur. Couples who have been married longer, though, may have jointly owned property.
Some property is exempt from division. This property usually has sole proprietorship, which includes property owned before the marriage and gifts, as well as any property that one of the spouses bought on his or her own during the marriage.
Contact Us
Division of property can be a difficult process, so it is important to have an experienced attorney handle your case. If you and your spouse are thinking about getting divorced, contact the Fort Lauderdale divorce attorneys of Eric N. Klein & Associates, P.A. at 954-580-8080.
