St. Petersburg Equitable Distribution Attorney
When a marriage ends, one of the most complex and contentious aspects of the divorce process is the division of marital property. In Florida, courts follow the principle of equitable distribution, which means that marital assets and debts are divided fairly—but not necessarily equally—between spouses. The goal is to reach a division that reflects fairness based on each party’s financial circumstances and contributions to the marriage. At the Law Office of Kevin F. Coleman, we guide clients through the complex Florida equitable distribution process, ensuring that their rights and financial interests are protected every step of the way. For help with the property division in your divorce, contact our office to discuss your needs and desires with an experienced and knowledgeable St. Petersburg equitable distribution attorney.
Equitable Distribution Basics
Equitable distribution is based on fairness rather than a strict 50/50 split. Courts consider various factors to determine how marital assets and debts should be divided. While some divorcing couples can negotiate a property settlement on their own, others may need legal representation to ensure a fair division. Attorney Kevin F. Coleman has extensive experience advocating for clients in high-stakes property division disputes, from amicable negotiations to contested court battles.
Marital vs. Non-Marital Property
Before assets and debts can be divided, it must be determined which assets qualify as marital property and which are separate (non-marital) property. Marital property includes assets acquired during the marriage, such as real estate, bank accounts, retirement savings, businesses, vehicles, and even debts incurred jointly. These assets are subject to equitable distribution.
In contrast, non-marital property includes assets owned by either spouse before marriage, as well as inheritances received during the marriage by one spouse alone, gifts to one spouse, and assets specified as separate property in a valid prenuptial or postnuptial agreement. These assets typically remain with the original owner.
However, complications can arise when separate property is commingled with marital property, such as when one spouse deposits inheritance money into a joint bank account or when both spouses contribute to the upkeep of a home owned by one spouse before the marriage. In such cases, legal representation is crucial to to determining the proper legal character of the asset.
Factors Considered in Equitable Distribution
Florida courts examine multiple factors to determine how to fairly distribute marital property. Some of these considerations include:
- The length of the marriage
- Each spouse’s economic circumstances and earning capacity
- Contributions to the marriage, including financial and non-financial contributions (such as homemaking or raising children)
- Whether one spouse contributed to the education or career advancement of the other
- The desirability of allowing one spouse to retain certain assets, such as the marital home, for the benefit of minor children
- The intentional dissipation or destruction of marital assets by either spouse before or during the divorce
By presenting a compelling case that accounts for these factors, we work to ensure that our clients receive their fair share of marital property.
Complex Property Division Matters
Not all divorces involve straightforward asset division. Some cases involve high net-worth divorces or complex financial holdings, requiring expert financial analysis and strategic legal representation. Attorney Kevin F. Coleman has experience handling cases involving:
- Business ownership and valuation disputes
- Division of stock options, investments, and retirement accounts
- Real estate holdings, including rental properties and vacation homes
- Hidden or undisclosed assets
- Significant debt division
In high-asset divorces, forensic accountants, business valuation experts, and other financial professionals may be needed to ensure a proper valuation and division of assets. We collaborate with financial specialists when necessary to protect our clients’ interests.
Debt Division in Divorce
Equitable distribution applies not only to assets but also to marital debts. Credit card debt, mortgages, car loans, and business liabilities incurred during the marriage must be allocated between the spouses. Courts assess each party’s ability to repay debts, whether the debt benefited both spouses, and who primarily used or incurred the debt. Our firm ensures that debt division is handled fairly and that our clients do not bear an undue financial burden.
Negotiating Property Settlements
While some divorces require litigation, many couples prefer to negotiate a property settlement outside of court. Mediation and negotiation can provide a more efficient, cost-effective resolution while allowing both parties greater control over the outcome. We guide our clients through settlement discussions, advocating for their best interests while striving for amicable agreements when possible. However, if litigation is necessary, we are prepared to present a strong case in court.
Why Choose the Law Office of Kevin F. Coleman in St. Petersburg?
Dividing marital assets and debts is one of the most significant aspects of any divorce. At the Law Office of Kevin F. Coleman, we provide personalized legal guidance to help our clients navigate the equitable distribution process with confidence. Kevin F. Coleman’s extensive experience in family law and litigation ensures that our clients receive knowledgeable and aggressive representation in negotiations and court proceedings.
If you are going through a divorce and need legal assistance with equitable distribution, contact us today for a free consultation. Let us help you protect your financial future and achieve a fair resolution to your case.