Equitable Distribution in Florida

Our Florida Equitable Distribution Attorneys are ready to help address any complication, this includes:

• The existence of secret assets.
• The waste of assets.
• The purposeful underpricing of asset value.
• The purposeful overpricing of asset value.
• The intermingling of any non-marital assets.

The proper categorization of marital and non-marital property is paramount under Florida’s equitable distribution statute. Such property includes, but is not limited to:

• Jointly acquired assets during the time of marriage.
• Any value increase to non-marital assets due to spousal efforts.
• Any personal property held in joint title.
• Any gifts given to one another during the marriage.
• Joint bank accounts.
• Any retirement benefits accrued during the marriage.

During equitable distribution, it’s important to understand how commingled assets are classified. A number of key examples are:

• When a spouse gets added to an individual premarital bank account.
• When non-marital moneys are added to a joint marital bank account.
• When marital funds are placed into an individual premarital bank account.
• When a spouse gets added to the title of a premarital home.

Florida Statute 61.075 dictates the premise for fair distribution and the factors to consider for unequal distribution. The elements the court will review are as follows:

• 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 of income or the improvement of, or the incurring of liabilities to, both 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. In making this determination, the court shall first determine if it would be in the best interest of the dependent child to remain in the marital home; and, if not, whether other equities would be served by giving any other party exclusive use and possession of the marital home.
• The intentional dissipation, waste, depletion, or destruction of marital assets after the filing of the petition or within 2 years prior to the filing of the petition.
• Any other factors necessary to do equity and justice between the parties.