Equitable Distribution of Assets in Florida

In a Florida divorce case, marital assets and liabilities are subject to equitable distribution. Florida’s equitable distribution scheme is set out in s. 61.075, Florida Statutes. The statute requires the trial court to equitably divide the spouses’ marital assets and liabilities during an action for dissolution of marriage. The court then must value the assets as of a date determined by the court.

Generally, the court will start with the premise of dividing marital assets and debts 50/50. The law requires that a court equally distribute the marital assets unless a “legally sufficient justification for an unequal distribution is given based on the relevant statutory factors.” See Hitchcock v. Hitchcock. 

Statutory Factors for Unequal Distribution

When courts perform an equitable distribution of marital property in Florida, it will consider the following factors as listed under s. 61.075, Florida Statutes:

  • 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 nonmarital 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 a court of competent jurisdiction otherwise terminates exclusive possession. In making this determination, the court shall first determine if it would be in the dependent child(ren)’s best interest(s) to remain in the marital home. 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.

The court establishes what specific property is available for distribution and the total value of marital property through four crucial steps: (1) setting the cut-off date for assets and liabilities to be considered marital, (2) classifying the property as marital or nonmarital, (3) setting the valuation date for marital property, and (4) valuing marital property.

Contact an Orlando, Florida Equitable Distribution Lawyer

Seeking advice from a qualified family law attorney early in divorce increases the ability to protect property that is meaningful from division by the court. At FCLC Group, we do everything in our power to protect our clients’ marital rights and help ensure an equitable distribution of all assets and debts. To learn more about marital asset protection or for questions about a legal issue, contact us today.