Factors that Impact the Equitable Distribution of Property
Florida is one of the states that uses equitable distribution principles when dividing property between spouses. The equitable distribution of property does not mean an equal, 50/50 split of marital property, and there are factors that a court can take into consideration when determining how the assets and debts should be split between a couple. At the Law Office of David L. Hirschberg, our dedicated Boca Raton divorce attorneys are here to provide legal representation. To learn more, call or contact our office today.
Separate and Marital Property
The first step in the equitable distribution of property is identifying what property is subject to division. All property brought into the marriage by one spouse is considered separate property and will revert back to that spouse upon divorce (unless it was comingled with marital property, or re-titled into the joint names of the parties). However, all property acquired during the course of the marriage is considered marital property and subject to equitable division between spouses during a divorce. Marital property is where the court can determine whether one spouse deserves a greater share of the assets or liabilities than the other.
Factors Considered in Equitable Division
The court can look at a number of factors when determining what an equitable distribution of property between spouses in a Florida divorce looks like. Some of the most common factors considered include the following:
- Each spouse’s income and earning potential
- The length of the marriage
- The number of minor children
- Each spouse’s assets and debts
- The overall mental and physical health of each spouse
- Whether one spouse made sacrifices for the other’s professional career, and more.
Adultery is not a factor that is explicitly considered when determining the division of marital property in a divorce; however, if one spouse used marital assets to fund an extramarital affair, the judge can consider the misappropriation in the distribution of property. In addition, if one spouse hid the accumulation of certain types of debt from the other spouse during the marriage, such as gambling or credit card debt, a judge in the case may determine that spouse responsible for most or all of the debt in a divorce.
Finally, the court in Florida may also adjust the division of property based on the overall equities of the case in order to do justice between the parties.
Call or Contact Our Office Now
Do you have more questions about the equitable distribution of property in your Florida divorce case? If so, call or contact the Law Office of David L. Hirschberg in Boca Raton today to schedule a consultation of your case.