How is Property Divided in a Florida Divorce?

Are you currently considering divorce? Or are you anticipating that a divorce is in your near future, whether you are planning to file yourself or you believe your spouse will soon file? If so, it is essential to understand how property is divided in a Florida divorce. Florida is known as an “equitable distribution” state, and the specific section of the Florida Statutes that outlines the division of property is described as the “equitable distribution of marital assets and liabilities.” However, Florida’s definition of “equitable distribution” is different from other states, and it is important to understand how the process works. Our Port St. Lucie divorce attorneys can explain in more detail below, and we can answer any additional questions you have about property division and your divorce.

Defining “Equitable Distribution” in Florida 

Most states that are considered “equitable distribution” states — as opposed to “community property” states — divide marital property based on what is equitable to the spouses based on a range of factors. In other words, in most states, “equitable” does not mean “equal.” However, in Florida, the understanding of equitable distribution is a bit different.

Under Section 61.075 of the Florida Statutes, the court will determine which property should be classified as marital versus nonmarital (or separate) property. Then, “in distributing the marital assets and liabilities between the parties, the court must begin with the premise that the distribution should be equal, unless there is a justification for an unequal distribution.”

In other words, in Florida, equitable distribution means starting from the assumption that property will be divided equally unless there is a reason to divide it unequally.

Factors for an Unequal Distribution

The Florida Statutes list 10 factors for courts to use when determining whether there is justification for distributing marital property unequally. Those factors include but are not limited to:

• Contribution of each spouse to the marriage, home, and care of children;
• Economic circumstances of the spouses;
• Duration of the marriage;
• One spouse’s contribution to the other’s career;
• Desirability of retaining a specific asset, including the marital home; and
• Intentional waste or dissipation of any marital assets by one of the spouses.

There are additional statutory factors, and the Florida Statutes also make clear that a court can consider “any other factors necessary to do equity and justice between the parties.” Accordingly, courts can divide property equitably as the term “equitable distribution,” suggests, but only if there is a justification for an unequal distribution.

Contact Our Port St. Lucie Divorce and Family Law Attorneys for Assistance Today

Anyone who is considering divorce or anticipating divorce in Florida should have a clear understanding of how property division will work, and any steps to be taken in advance to ensure that all assets and debts are accurately identified, classified, and distributed. If you have questions, or if you need assistance preparing for property division in your Florida divorce, one of the experienced Port St. Lucie divorce lawyers at Baginski Brandt & Brandt can begin working with you today. Contact our firm to learn more about how we can assist you.

Source:

leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.075.html