Property division is a complex issue in Florida divorce cases. The property that any of the spouses receive after the property division provides the financial basis for the rest of their life after their divorce.

You must understand the importance of having a skilled and knowledgeable lawyer on your side who can minimize your financial risks during your divorce proceedings. A property division lawyer in Miami works diligently to see that your interests are protected during the entire process and helps you obtain the property you deserve!

Property distribution is basically a four part process:

1) Identifying the debts and assets regardless of when the debt was incurred, when the property was acquired, from whom debt or asset was acquired, and how it was acquired.

2) Classifying the debts and assets as separate, marital, or divisible.

            a) Separate: assets or debts acquired before the marriage

b) Marital: assets or debts acquired between the date of marriage and the date of separation.

c) Divisible: of property acquired after separation including financial accounts, bonuses and commissions

3) Valuation of the debts and assets: It is the most critical part which is carried out by accountants, appraisers, and business evaluators.

4) Equitable distribution of the debts and assets: A lot of factors are considered here which include

a) the income of each spouse

b) property of each spouse

c) length of marriage age

d) health of each spouse;

e) pension and other retirement benefits

f) contribution made by both to advance the other's education or career

If your property division case is turning more and more complex, you can turn to an experienced propertydivision lawyer in Miami at Barranco Law Firm. They understand the legal and financial aspects of the property distribution. You can learn more about them at barrancolaw.com.