TThe division of property (marital assets and liabilities) is a complex area of divorce. Florida statutes and case law provide for an "equitable distribution" (fair, not necessarily equal) of marital assets and liabilities.
A court must equitably distribute the marital property of parties to a divorce action. The parties do not have to specifically plead or request equitable distribution of all marital assets, it is presumed in a general request. Generally each party will take half of the marital assets regardless of fault. The court shall set apart each spouse's nonmarital assets and liabilities.
A trial court is required to divide marital assets and liabilities equally between spouses, unless the court makes a finding which supports an unequal distribution. While an equal distribution presumption is the court’s starting point, Florida provides a list of factors that must be considered to determine if an unequal distribution of property is justified. These factors include, but are not limited to:
(1) contribution each spouse makes to the marriage (which includes care and education of the couple’s kids or work as a homemaker);
(2) each party’s economic position;
(3) how long the marriage has lasted;
(4) whether the educational goals of either spouse has been interrupted;
(5) whether one spouse has personally contributed to the other spouse’s career or educational goals;
(6) whether one spouse wants to keep assets in their same form without any interference;
(7) each spouse’s contribution to acquiring, enhancing, and production of income, as well as the improvement of both the marital and nonmarital assets
(8) whether one spouse wants to keep the marital home as a residence for any dependent children;
(9) whether either party intentionally dissipated, wasted, depleted, or destroyed marital assets after filing for divorce or two years before filing for divorce; and
(10) all other factors needed by the court to determine a fair and equitable distribution.
Call us for a consultation and evaluation!