Florida is an equitable distribution state, meaning that marital assets are divided on an equitable basis. Or at least that is a court’s objective. Under Florida’s equitable distribution statute, marital property should be equitably divided between divorcing parties.
Florida Statute § 61.075 requires that a court begin the process of dividing assets and liabilities by setting aside those assets that are defined as “non-marital.”
• typically those assets which either were owned prior to the marriage or inherited during the marriage and not mixed with marital assets,
• or those properties specified in a written agreement between the parties as non-marital.
Next, a court will divide marital assets and marital liabilities, starting with the presumption that such assets and liabilities will be distributed equally. A court may distribute marital assets and marital liabilities unequally if there is justification for such. A court will look to the following factors to determine whether an unequal distribution should be ordered.
• the contributions of each party to the marriage,
• the contribution of one party to the career or educational opportunities of the other,
• the intentional depletion or destruction of marital assets by one party,
• and other equitable factors.
This is just a very brief look at the basics of Equitable Distribution. If you are considering divorce and are weary of what may happen to your assets and/or liabilities it is advisable to contact a Jacksonville Florida Divorce Lawyer today.