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Important tips for property division during divorce

If you are headed for a divorce you will want to know as much as possible about the process. One important part of the process is the division of property. You likely already have ideas as to which assets and properties you'd like to keep. So here are some tips for property division in the state of Florida.

For the most part, property settlements in a divorce are usually final. This means that you won't be able to alter them easily, if at all. Be sure you are 100 percent confident in what you are agreeing to before signing any paperwork. Do not just give your spouse everything in order to get the divorce over with quicker. You will regret this in the long run.

A mortgage can make property division in divorce a nightmare. The reason for this is that a mortgage typically has both spouses names on it. Refinancing after a marriage has ended can be downright difficult. Think long and hard before agreeing to one of you keeping the marital home. It might be easier to sell the property, split the money, and then go your separate ways with each of you living somewhere else.

Do not forget about the family pet. A pet is considered property when a couple divorces. This might be just as contentious of an argument as who will get to have primary custody of the children. You will need to determine which party is best to care for the pet and its needs.

Never try to hide assets when getting divorced. If you do so, it can be viewed as fraud and your credibility in the eyes of the court will all but disappear. That is why you need to be as honest as possible when disclosing your finances.

If your marriage has come to an end and you are ready to file for divorce, contact our firm in Fort Lauderdale to discuss your case and ask questions about the division of property.

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