Equitable Distribution / Division of Assets & Liabilities
How will our assets be divided?
In Florida, the answer to the question of “Who gets what?” is based on the premise of “equitable distribution.” The court must begin with the premise that the distribution between you and your spouse should be equal. This means that the division between divorcing spouses will almost always be an equal 50/50, unless there is a justification for an unequal distribution based on all relevant factors.
Among the many factors that the court may consider when dividing your and your spouse’s assets are economic circumstances, contributions to the marriage, length of the marriage, and strong attachments to particular assets. The court is also tasked with determining whether an asset or debt is marital or non-marital, including whether any appreciation or enhancement in a non-marital asset could be marital. That’s why it is vitally important to have a skilled divorce attorney on your side to guard your property rights.
The division of assets is often one of the most disputed and contentious aspects of a divorce, especially when talking about complex and multi-million-dollar estates. Do you and your spouse own a business or real estate? Do you have other investments or unique items such as antiques, jewelry or art? What other tangible and intangible assets are at stake? We often work with financial experts to help clients thoroughly evaluate and value assets, as well as to classify them as marital or non-marital, to ensure your interests are protected during the division process. When dividing assets in a divorce, many questions arise related to tax, estate planning, trusts, businesses, real estate, and other legal matters, and our firm has many experienced attorneys who can advise you on how to navigate these issues to achieve the best resolution for you and your family.
If you have questions about a family law matter and wish to speak to an experienced attorney, our team is here to help. Contact us today.
Related Practice Areas
- Divorce / Dissolution of Marriage
- Alimony / Spousal Support
- Child Support & Children's Issues
- Modification & Enforcement Actions
- Prenuptial & Postnuptial Agreements
- Same-Sex Marital Considerations & Domestic Partnerships