An uncontested divorce often has a smoother process because you and your spouse are in charge of dividing up all assets without the assistance of a judge. In uncontested divorces, the split is amicable, and while you may still consult uncontested divorce attorneys Orlando to help you write the settlement agreement, you are in charge of the decisions and negotiating.
How Is the Division of Property Typically Handled in an Uncontested Divorce?
There are some things in divorces that seem more complicated to divide and handle, especially in an uncontested divorce. One of the more significant concerns many spouses have is the division of property and how it is handled during an uncontested divorce.
In Floridian divorces where a judge makes the decision, the division is made so that each spouse gets an equal share of the marital property. For some cases, though, a judge may not feel like equally would be fair or in the best interests of one of the parties and may look at other aspects of the marriage to determine the division of property.
Uncontested divorces aren’t necessarily held to the same law. You and your spouse are free to arrange and divide your property however you see fit, but many couples choose to follow the same methods as the court in order to ensure a fair split.
Of course, this only applies to marital property or property acquired or improved after the marriage. Any property you owned before the marriage will remain your separate property and does not have to be considered unless you and your spouse made updates or increased the property’s value together.
Anything that can be defined as separate property does not play into the settlement agreement. Separate property may also be written into a prenup agreement.
How Is the Division of Debt Typically Handled in an Uncontested Divorce?
Both parties must agree on the division of debt in an uncontested divorce, just like the division of property. Therefore, you and your spouse will have to work together to decide upon the amount of debt attributed to each party before you can settle your divorce.
In divorce cases where a judge decides for you, marital debt will be divided equally. A judge may consider the financial earnings of both parties and the amount of debt each party already has, but the law states that debt is divided 50-50 by the court. Due to this, even in cases where one party makes significantly more than the other, it may not be a convincing enough factor to change the judge’s mind.
The debt that needs to be divided and agreed upon is only the marital debt. This means that any separate debt that you or your spouse had before the marriage will remain your own and, just like with separate property above, will not need to be listed or agreed upon in the settlement agreement.
It’s important to note that even if debt was acquired for and in the name of only one of the spouses throughout the marriage, this debt would still need to be treated as marital and shared debt. However, you and your spouse may agree to divide it differently in an uncontested divorce.
When deciding on a settlement agreement for an uncontested divorce, it’s important that you and your spouse are fully transparent about the debt you carry and other finances. At the end of your settlement agreement, both parties need to submit a financial affidavit to the court, and discovering that you or your spouse hid information from each other will cause complications.
Divorces are expensive and complicated, but filing for an uncontested divorce can save you both stress and money. It’s still beneficial to consult an attorney throughout the process, but even then, uncontested divorces are the most affordable and least time consuming option.