Divorce & Family Attorney's in Jacksonville

Awarded Martindale - Hubbell "AV" (Highest) Attorney Rating

Phone

904-737-1771

Bottom line: Who gets what?

Division of Assets attorney jacksonville flThe division of Assets in a divorce action can prove highly contentious, particularly in cases involving substantial assets or privately-owned businesses.

EQUITABLE DIVISON OF ASSETS AND DEBTS IN FLORIDA DIVORCE

At TREECE & TREECE, Thomas D. Treece and Debra Crews Treece, who are also business partners, provide a highly trained, dedicated team to analyze your financial exposure and provide insight to protect your financial interests. take our the rest.

However, you must be cognizant of the fact that the equitable division of assets which includes both property and debts can be complicated by various factors including, but not limited to:

  • business entities,

  • pre-marital properties utilized within the marriage;

  • pre-marital properties appreciating in value due to the active participation within the marriage;

  • passive appreciation;

  • closely-held corporations and business interests with elements of premarital and marital interests.

Tom and Debra Treece provide a highly trained, dedicated team to provide a very personalized representation designed to meet your specific needs in the financial aspects of your divorce. As your Legal Team who are also Business Partners, TREECE & TREECE can analyze your financial concerns and protect your financial interests. We are uniquely qualified through our many years of experience to identify your financial exposure and provide insight into your best strategy to protect your financial interests.

ATTENTION PROPERTY OWNERS: REAL ESTATE, PERSONAL, AND INTANGIBLE PROPERTY

You are likely asking some of the following questions regarding your

FINANCIAL MATTERS, including:

  • EQUITABLE DISTRIBUTION of ASSETS;

  • DIVISION AND DISTRIBUTION OF PERSONAL AND INTANGIBLE PROPERTY;

  • DIVISION AND DISTRIBUTION OF REAL ESTATE;

  • DIVISION AND ALLOCATION OF DEBT.

QUESTIONS FOR PROPERTY OWNERS:

  • How will we divide our real properties: our marital home, other real estate, second homes, undeveloped acreage, rental properties, time shares?

  • What is the date for evaluation of the property? Why does Evaluation Date matter? How do the Courts determine the Evaluation Date?

  • How will we divide our personal property, such as: cars, furniture and furnishings, equipment, jewelry, collections, and so forth?

  • How will we divide our debts, such as: mortgages, credit card debt, other contractual obligations?

  • How will we divide and disburse intangible property, such as: stocks, bonds, annuities, retirement accounts, pensions, IRA’S, and others?

  • How will we divide our financial responsibilities and debts to establish and maintain two separate households when we were previously managing one household together?

  • What is the legal criteria to determine which properties, whether tangible or intangible will be divided between the parties?

  • What constitutes Marital Property and Non-Marital Property?

  • How do I protect my inherited property?

  • How do we present argument to pierce or defend the various pre-marital trusts?

  • How do I protect property I acquired prior to the marriage? But if that property has appreciated in value since the marriage, does that change the game plan? THIS is a critical reason to have a very good Pre-Nuptial Agreement.

  • How do the Courts treat the appreciation in value of the particular properties, both real and intangible properties when the appreciation is purely “passive” or “active” during the marriage? Again, this is a reason you need a very good Pre-Nuptial Agreement to protect your financial interests.

MARITAL DEBT:

  • How will we divide our debt?

  • How do the Courts and the financial lending companies trea the unpaid mortgages and promissory notes held jointly or individually?

  • How do the financial lending companies treat the unpaid mortgages and promissory notes held jointly or individually?

  • How do the Courts assign credit card debt held jointly or individually?

  • How do the lending institutions treat credit card debt held jointly or individually within the marriage?

  • How do the Courts treat miscellaneous contractual debt held jointly or individually during the marriage?

  • How do the lending institutions treat miscellaneous contractual debt held jointly or individually during the marriage and afterwards?

  • During the disbursement of debts, how is the responsibility for the debt assumed if only one spouse is named as owner on the credit card but both spouses use the card?

  • If both spouses are named as authorized users on the credit card, but only one spouse uses the card, who is responsible?

a) In regard to credit card debt, what if my spouse spent money without telling me? Am I responsible for the debt while we were married? What does the Court consider in regard to separate versus joint credit card debt? What do the credit card companies consider in regard to the remaining separate or joint debt?

b) If my name is on the mortgage for our marital home, but not on the note, am I responsible for the mortgage payments? If my spouse gets the marital home in the divorce but her name in not on the note, is she responsible to make the payments?

c) How do the mortgage lending companies treat the issue of who is responsible for the unpaid mortgage on the marital home regardless of who gets the property in the divorce?

Throughout the Divorce Procedure, specifically, the consideration of all of the FINANCIAL ASPECTS, Tom and Debra Treece are extremely concerned with your ability to secure and/or rebuild a very comfortable level of financial security including, but not limited to, the allocation and division of your marital property and debt, the proper allocation of your non-marital property and debt, and the preservation and proper division of your business interests.

We welcome you to call Treece & Treece at (904) 737-1771 or email us at TreeceLaw @ bellsouth.net for an appointment to discuss the many issues brought to your attention and how the legal issues apply to you.

FAQ: DIVISION OF PROPERTY

What criteria do the courts consider in the Division of Assets? The Florida Statues provide for the Equitable Distribution of the party’s assets and debts. The Court will identify and consider the non-marital assets purchased or otherwise procured prior to the marriage or obtained by specific gift by one spouse excluding the other by inheritance or family gift. In general, these non-marital properties will be allocated to the owner spouse. Equally important, the Court will identify and consider the non-marital liabilities and debts, incurred or assumed prior to the marriage by one spouse. The remaining assets and liabilities will be divided within the guidelines of the Equitable Division Statute.

ATTENTION: BUSINESS OWNERS AND BUSINESS PARTNERS

TREECE & TREECE, as a Husband-Wife Team who are Business Partners, deal with the “bottom line” financial considerations effectively every day in the world of business. As your Business Legal Team, again, we bring to the table a perspective learned over 65 years of combined experience operating a business with all of the many issues surrounding the corporate entity. Our business acumen is utilized to work within many corporate entities; such as: governmental and tax regulations; accounting practices; payroll responsibilities; marketing aspects to grow the business, and as you, in business or otherwise employed know, crisis management.

The hard work to survive in the corporate/professional/business world as employer or employee is an arduous demanding task subject always to conflict and challenge. Now, add a Divorce with the Financial Separation of Assets to that!!! What you planned on for retirement is now subject to substantial change . Have this discussion and get the answers to the following questions and how they particularly apply to you and your financial assessment as soon as possible with the Divorce Law Firm of TREECE & TREECE. You can call us at (904) 737-1771 or email us for an appointment at TreeceLaw @ bellsouth .net.

  • How will we define and divide our business interests?

  • How do the Courts consider both marital and non-marital business interests?

  • How do we define and evaluate family-owned corporations where the spouse is involved or not involved in the business?

  • How do we define, evaluate, and protect a closely held corporation and its stock?

  • How do we present argument to pierce or defend the various pre-marital business trust where comingling as occurred?

The Division of Business Interests in the Allocation and Distribution of Property is an extremely complex and fact intensive area of the law where it is necessary to work very closely with the Financial Business Team at TREECE & TREECE who have a combined 65 years of dealing with complex business issues. Please call our office as soon as possible to begin gathering the necessary production of documents to determine your exposure, strengths and weaknesses as it relates to your business interests. Time is of the Essence; Make no Mistake.

You can call us at (904) 737-1771 or email us for an appointment at TreeceLaw@divorceattorneyjax.com

If you need a Family Law Attorney specializing in the Division of Assets is the Jacksonville area , Thomas and Debra Treece will listen carefully to your concerns and desires, whatever your situation may involve. We will proceed in a forthright manner to achieve your goals. Please call us today.

The Family Law Firm of Treece and Treece

4465 Baymeadows Road Suite 2

Jacksonville Florida 32217

904-737-1771

Page Topic: Division of Assets


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