Equitable Distribution

Equitable Distribution: Property

During the process of divorce marital and non-marital assets and liabilities must be divided. Agreements can be reached or the Court can make a determination. Laura Callahan, P.A., will help you protect your property rights and to allocate liability obligations.

Florida law mandates that assets and liabilities be equitably divided when parties divorce. The purpose of the Florida statute that addresses equitable distribution is to achieve fairness. The initial presumption is that each of the divorcing spouses will receive one-half of all assets and liabilities. However, this may not be the case if the Court finds that there is reason for unequal distribution.

Equitable Distribution: Property

Marital assets and liabilities are those acquired during the marriage. Non-marital assets and liabilities are those acquired before marriage and during marriage by gift or inheritance. Non-marital assets that are joined with marital assets may become marital property.

Once the parties’ assets and liabilities have been determined and classified as non-marital or marital the parties may reach an agreement regarding distribution or the Court may determine the equitable distribution of the marital estate. Florida law allows the Court to consider:

  • The contribution to the marriage by each spouse;
  • The economic circumstances of the parties;
  • The length of the marriage;
  • The economic circumstances of each party, including needs, debts, and liabilities;
  • 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;
  • The contributions 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 non-marital assets of the parties;
  • The desirability of retaining the marital home for any dependent child of the marriage;
  • The intentional dissipation, waste, depletion, or destruction of marital assets;
  • Prenuptial or postnuptial agreements; and
  • Any other factors that will contribute to do equity and justice between the parties.

Each case is unique and there are never guarantees regarding the outcome. It is critical to consult with an experienced family law attorney to protect your property rights and avoid unnecessary obligations. Laura Callahan, P.A., will assist you in navigating your distribution issues, evaluate your situation and explain your rights and obligations.

Laura Callahan, P.A., will provide the legal assistance you need to pursue this journey.