Equitable, Not Equal, Distribution
In the state of Florida, couples seeking divorce will face the issue of separating their marital property in a fair manner. The court will divide property in an equitable manner based on Florida Statute § 61.075. When it comes to the distribution, Florida begins with a premise that marital assets and debts should be divided in an equal manner, unless there is justification for an unequal split of property.
Some of the reasons that property may be unequally split include:
- Length of the marriage
- Contribution of each party to the other spouse’s career
- Each party’s waste of marital assets
- Each spouse’s contribution toward gaining assets
In the same way that property can be unequally distributed, so can debts. For instance, if one spouse spent money in a reckless manner during the course of the marriage, the court might assign more of the debt into his or her hands.
What About My Premarital Assets?
Non-martial assets, those that are obtained prior to the marriage, will not be included in the equitable distribution activity. As with many standards, there is an exception to this rule. If the value of non-marital assets appreciates during the course of the marriage, it will be included in the distribution.
Catherine W. Real, P.A. is available to help clients divide their property in a fair, but not necessarily equal, manner. If you need assistance protecting your rights and freedom as this matter is assessed, look to the Tampa divorce attorney today!