Equitable distribution is the process of dividing marital assets and debts in a divorce case in a way that is fair, but not necessarily equal. In the state of Florida, courts are required to divide marital assets and debts in a manner that is equitable, taking into consideration a number of factors set forth in the state's statutes.
One of the first steps in the equitable distribution process is to determine what assets and debts are considered marital and therefore subject to division. In Florida, marital assets and debts are those acquired by either spouse during the course of the marriage, with some exceptions. These exceptions include gifts, inheritances, and assets acquired prior to the marriage.
Once the marital assets and debts have been identified, the court will consider a number of factors in determining how to distribute them in an equitable manner. These factors include:
In making its determination, the court will consider these factors in conjunction with the specific circumstances of the case, with the goal of achieving an outcome that is fair and equitable to both parties.
It is important to note that equitable distribution is different from community property states, where marital assets are typically divided equally. In Florida, the court has the discretion to divide marital assets and debts in a way that it considers fair and equitable, even if that means an unequal distribution.
If you are going through a divorce in Florida, it is important to work with an experienced family law attorney to ensure that your rights and interests are protected in the equitable distribution process.
We can help you understand your options and advocate for a fair and equitable outcome in your case by contacting our law office today.