How Are Assets Divided in a Divorce?

If you’re in the beginning stages of a divorce, you may be wondering how the court will divide your assets. First, it’s important to understand exactly which assets will be divided. During a divorce, the court divides any assets that were acquired during the marriage. For example, if a husband and wife get married and then purchase a house together, the house will be divided between them during their divorce. Even if the husband purchases the house with his own money and puts it in his own name, it will still be considered divisible property if he does so while married.

But the division of assets doesn’t end there. If one spouse acquired an asset prior to marriage, and then the asset increases in value during the marriage thanks in part to contributions from the other spouse, the court will also divide the amount of appreciation. So, if a husband purchased a house using his own funds before getting married, and then he and his wife spend a significant amount of money making upgrades during their marriage, the amount that the house increases in value will be considered a divisible asset.

There are various other rules pertaining to which assets are divisible, and a qualified divorce attorney can provide you with additional guidance on those points.

The Equitable Distribution Method

Once you determine which of your assets will be divided during a divorce, you’ll need to consider what method the court will use to divide them. Florida is an equitable distribution state. That means that the court will divide assets as fairly as it can, even if the division isn’t exactly equal.

Providing Legal Assistance for Clients Across Tampa Bay

The attorneys at the Law Offices of Audrey A. Jefferis, P.A., proudly represent clients throughout the Tampa Bay area, including those in Pasco, Pinellas, Hillsborough, and Hernando Counties. If you’re concerned about how your assets will potentially be divided during a divorce, you can turn to us for assistance. We have offices in New Port Richey and Palm Harbor—contact us to schedule a consultation at the location that’s most convenient for you.