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Common Questions About The Division Of Debts & Assets In Florida Divorce Proceedings

A divorce is usually the most consequential “business transaction” an individual may encounter. Getting expert guidance from a divorce attorney is essential, because as they say, “you don’t know what you don’t know”.
The courts recognize that it is not desirable to disrupt a party's ability to conduct its business. Therefore, measures are taken to help a business go about its daily operations. If you are a business owner who is going through divorce, you should contact an attorney who can help you protect your business at each step of the way.
Debt is usually allocated in a 50-50 division – depending on whether or not it was accumulated during the marriage.
In Florida, assets are divided to represent a 50/50 split of similar net worth. Therefore, if one party gets more assets than the other, that party may need to make a cash payment to equalize the distributions.
Carl Boake, Esq.

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