When a couple divorces in Florida, their debt and marital property – the property they have accumulated and shared during their marriage – is subject to property distribution. Depending on your jurisdiction, it is either split equally (community property states) or equitably (equitable distribution states). Florida is an equitable distribution jurisdiction. Sometimes, marital property includes a business that the couple started together or, alternatively, one spouse started either before or during the marriage and continued to grow during the marriage. The business, under these circumstances, will also likely become subject to property division unless you take steps to safeguard it. Read more on how to safeguard your business.
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