Family lawyer in Orlando ensures fair distribution of property

Equitable Distribution

Florida is an “equitable distribution” state, meaning that with the dissolution of a marriage, all marital assets are to be divided fairly between former spouses. To save time and money, individuals may agree on a property split before the dissolution proceedings. This is known as a matrimonial settlement agreement or a stipulated settlement. If the agreement is reasonable, the court may approve it as written and incorporate it into the Final Dissolution of Marriage. If a workable settlement agreement cannot be achieved through negotiation, the court divides the marital assets using a step-by-step approach:

• The court goes through a discovery process to classify which property and debt should be considered marital
• It assigns a monetary value to the marital property and debt
• It distributes the marital assets between the two parties in an equitable fashion

Equitable does not necessarily mean equal. Florida law recognizes that a 50-50 split is not appropriate in every situation. However, when determining how to divide the marital property, the court begins with the premise that the distribution should be equal unless there is a reason for an unequal distribution based on all of the relevant factors, including:

• 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 or the improvement of income, or the incurring of liabilities to, the marital assets and the non-marital 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
• The intentional dissipation, waste, depletion or destruction of marital assets after the filing of the petition or within two years prior to the filing of the petition
• Any other factors necessary to ensure equity and justice between the parties

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