When most people think of equitable distribution of property in a divorce, they likely think of houses and properties, investments, and other monetary assets. However, there is usually a significant amount of personal property to be divided and making decisions regarding this kind of property can raise disputes and cause issues in a divorce. Like real property and assets, Florida law requires that personal property is divided equitably between the spouses, and agreeing on what is equitable can be challenging. The following is some information regarding handling personal property in your divorce.
Disagreements Can Be Costly
In the popular movie When Harry Met Sally, a main character is discussing divorce and states, “This eight dollar dish will cost you a thousand dollars in phone calls to the legal firm of That’s Mine, This Is Yours.” While intended to be humorous, this concept is unfortunately a reality for many contemptuous divorcing spouses. When spouses refuse to agree on certain issues, those issues must be decided by the court and such litigation can be costly. In order to avoid spending $1,500 in legal fees determining what happens to $300 worth of holiday decorations, it is always best that you and your spouse attempt to agree on how the personal property will be divided. If there are certain items that cause particular sticking points, a mediator may be able to provide a more efficient resolution than taking the issue before the court. Continue reading ›