The division of assets and liabilities in the dissolution of marriage is referred to as
Equitable property distribution, or divorce property division, and is typically an issue in most divorce proceedings in Delray Beach. Particularly in longer marriages and when high net worth estates in Delray Beach are involved, equitable property distribution can be a complex matter requiring the need for forensic accountants, tax experts, business valuation experts, appraisers, and actuaries to ensure the divorce property division is agreed upon by all parties.
Florida law in Delray Beach requires that equitable distribution begins with the all marital assets and liabilities being equally divided. In some circumstances, however, certain factors may warrant an unequal distribution of assets and liabilities. All non-marital and marital assets and liabilities in Delray Beach and elsewhere must:
Assets in Delray Beach can include a range of acquisitions, including, but not limited to investments, businesses, professional practices, real estate, retirement accounts, and personal property. Assets acquired during the marriage, whether acquired or titled jointly or individually, will be considered a marital asset in Delray Beach. A marital asset may also include the value of enhancements and appreciation in value of an asset, as well as vested and non-vested benefits.
Any assets and liabilities deemed to be non-marital in Delray Beach are then typically set aside and not subject to distribution. In many cases, assets may have both a marital and non-marital component, making the identification, valuation, and distribution in Delray Beach more complex.
Additionally, income earned from property distribution must be attributed when analyzing alimony (spousal support) and child support. For this reason, equitable property distribution in Delray Beach of assets and liabilities must be considered before awards for alimony and child support.