What is Community Property? Is it Applicable in Florida?

The concept of "Community Property" has to do with the rights of married persons to property that is not titled in both parties' names. It is not really a relevant discussion about Florida divorce law as the concept of community property has not been adopted in Florida.

Florida calls the distribution of property and debt of the parties in a divorce case "Equitable Distribution." It is presumed that each party will receive approximately 50% of the assets and debts that accrued during the marriage – regardless of who holds the title or in whose name the debt or asset appears. However, one party may be able to keep as their own property that was gifted to them by someone other than the spouse, or property that was inherited. These are all matters to discuss with a qualified attorney from our firm.

How your property is divided in a divorce can vary widely, and the final settlement or judgment will impact your finances for years into the future. These are issues that must be carefully negotiated and are often better resolved outside of court. Should the case go to trial, the skills of your attorney in preparing and presenting the case could make a significant impact on the outcome and your future financial health.

Whether you are facing a difficult divorce, or there are issues at stake such as who will keep the family home, bank accounts, stock accounts, other property, or valuables, you need an attorney to represent you so that you don't suffer unnecessary financial losses.

Call Richard A. Heller, P.A. for information about property division in Florida. Your future financial health could depend upon it.

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