Property Division
Florida Property Division: Understanding Equitable Distribution
Florida Courts follow the legal doctrine known as equitable distribution. Equitable distribution is the distribution by the Court of property and debt (aka as “assets and liabilities”.) Florida Courts:
- Determine which assets and liabilities are marital and which ones are non-marital;
- Assign a monetary value to the assets and liabilities;
- Then distribute them equitably between the parties.
How Florida Courts Divide Assets
Note that equitably does not always mean equally. Courts in Florida have discretion to make unequal distribution of assets and liabilities under certain circumstances. Pursuant to Florida Law, the factors that the Court looks at when making an unequal distribution are:
- The contribution to the marriage by each spouse, including contributions to the care and education of the children and services as homemaker.
- The economic circumstances of the parties.
- The duration of the marriage.
- Any interruption of personal careers or educational opportunities of either party.
- The contribution of one spouse to the personal career or educational opportunity of the other spouse.
- The desirability of retaining any asset, including an interest in a business, corporation, or professional practice, intact and free from any claim or interference by the other party.
- The contribution of each spouse to the acquisition, enhancement, and production of income or the improvement of, or the incurring of liabilities to, both the marital assets and the nonmarital assets of the parties.
Speak with a Florida Family Law Attorney
Key Factors in Florida’s Equitable Distribution Process
- The contribution of one spouse to the personal career or educational opportunity of the other spouse.
- The desirability of retaining any asset, including an interest in a business, corporation, or professional practice, intact and free from any claim or interference by the other party.
- The contribution of each spouse to the acquisition, enhancement, and production of income or the improvement of, or the incurring of liabilities to, both the marital assets and the nonmarital assets of the parties.
- The desirability of retaining the marital home as a residence for any dependent child of the marriage, or any other party, when it would be equitable to do so, it is in the best interest of the child or that party, and it is financially feasible for the parties to maintain the residence until the child is emancipated or until exclusive possession is otherwise terminated by a court of competent jurisdiction. In making this determination, the court shall first determine if it would be in the best interest of the dependent child to remain in the marital home; and, if not, whether other equities would be served by giving any other party exclusive use and possession of the marital home.
- The intentional dissipation, waste, depletion, or destruction of marital assets after the filing of the petition or within 2 years prior to the filing of the petition.
- Any other factors necessary to do equity and justice between the parties.
When dealing with equitable distribution in Florida, it is important to have guidance from an experienced Family Law Attorney. Bill Rosenfelt has worked with cases involving equitable distribution for more than two decades.
Please call us at (407) 462-8787 (Orlando), (941) 929-5556 (Sarasota) or click here to contact us and schedule your appointment.