If you and your spouse are getting divorced in Florida, you will both be confronted with the task of having to dispose of your assets and account for your liabilities. This concept is commonly referred to as “equitable distribution.”
The Court’s begin with the premise that distribution should be equal, unless there is justification for an unequal distribution based on relevant factors that are laid in F.S. 61.075 .
At the Kirlew Law Firm, our team of experienced Miami divorce attorneys has helped countless families navigate the murky waters of equitable distribution. We understand the emotional toll a divorce can take on someone and are dedicated to fighting for your interests, whether during settlement negotiations or in a courtroom.
If you are going through a divorce or have questions about marital estate distribution in Florida, call our office at (305) 521-0484 today!
Understanding Equitable Distribution in Florida
Divorcing couples will inevitably arrive at the point where they must split their marital assets and liabilities.
Some couples are able to come to an understanding and divide their assets through a marital settlement agreement. When both spouses are unable to come to an agreement regarding the distribution of their assets and liabilities, then the court must intervene and ultimately make that decision for them.
Marital and Non-Marital Assets
Under Florida’s equitable distribution laws, assets are divided equitably — though not necessarily equally — between divorcing spouses. To ensure equitable distribution, the court will determine whether the assets are “non-marital” or “marital.”
Non-marital assets generally consist of any property or assets owned by either spouse before the marriage. It can include bank accounts, investments, real estate (owned before the marriage), gifts from one spouse to another, and inheritances that have not been commingled. Non-marital assets that have remained separate during the marriage are considered separate property and will not be equitably distributed between the spouses.
Marital assets, on the other hand, include assets acquired during marriage irrespective of titles. For example, any property acquired after the date of marriage and before filing for divorce; increased value of previously owned property (appreciation); and/or income generated from an increase or addition of marital assets. These assets are typically divided between both parties equitably either through an agreement signed by both parties or by the judge if no agreement can be made.
Factors Considered in Determining Equitable Distribution in Florida
Once all the marital assets have been identified and characterized in a financial affidavit and through the exchange of mandatory disclosures, the court will start their analysis with an equal split, unless one party can show justification for the unequal distribution based on one or more of these factors:
- Each spouse’s contributions to the marriage (including financial contributions as well as the care and education of children)
- The overall financial situation and needs of each spouse
- The duration of the marriage
- Whether either spouse contributed to the other’s education or career
- Whether either spouse wants to live in the marital home and/or retain it as a residence for minor children
- Whether either spouse deliberately mismanaged or destroyed marital property after the divorce filing or within the two years preceding it
No two marriages are alike, and no two divorces are either. Therefore, the courts may weigh in on other factors necessary to ensure equitable property distribution.
Contact the Kirlew Law Firm for Skilled Divorce Representation in South Florida!
When people go through a divorce, they often think they will end up with equal shares of marital property. However, this is not always the case, and it is best to understand how Florida equitable distribution works to ensure you get what you deserve out of your divorce settlement.
Brian Kirlew, Esq. and his team of qualified and experienced Miami divorce attorneys can help you understand what to expect from equitable distribution in Florida — so you can rest assured that you will not miss out on anything when it comes time to dividing your assets. Call our office at (305) 521-0484 or contact us online if you have questions about asset distribution during a divorce.
Our Areas of Specialty in Family Law
Of all of the fields of law, family law is undoubtedly the most sensitive. Since it involves loved ones, former loved ones, and closely connected individuals, these cases pit people who have a shared relationship against one another. Personal details will be aired and used to advance or defend a case, leaving individuals feeling more vulnerable than they’d like.
The Kirlew Law Firm is dedicated to representing our clients with respect, integrity, and care, ensuring that the family law process is as pain-free as possible. That’s why we specialize in various areas of family law to best support you and your loved ones. When you work with our legal team, you can rest easy knowing that we’re handling most of the heavy lifting, guiding you through the legal process, and helping you process the results
Contact Us Today for a Free Phone Consultation
Hiring a capable family law attorney helps to even the odds in your case, offers you the assistance you need in these high-risk, high stake cases, and can help you ease tensions between the parties involved. At Kirlew Law Firm, our first priority is the comfort, safety, and confidence of you and your family. We will work hard to offer you every advantage possible during the course of your case and will use our collaborative approach to get you the best results.
Heidi Kirlew is here to represent you. Build a strong case today and get started by contacting us. We’ll set up a free phone consultation to get to know you and your circumstances.