Crucial Things To Know About Property Division in a Florida Divorce (For 2024)
One of the most complex aspects of a Florida divorce is navigating the property division process. Disputes over who gets what can lead to a contentious divorce. To prevent conflicts, it is crucial that couples seeking a Florida divorce understand how the property division process works. Because every divorce case is unique, it is best to speak to an attorney. That said, the following are some of the crucial things to know about property division in a Florida divorce.
- Equitable Distribution
The first crucial thing you need to know is that Florida follows the equitable distribution principle when dividing property between divorcing parties. Equitable distribution means that property is divided in a fair manner. Equitable distribution does not mean that spouses must receive equal shares of property. However, a 50/50 split is possible if it is considered fair. In fact, according to Florida Statute 61.075, Florida courts are required to start with the premise that the distribution should be equal. Florida courts order unequal distribution of property if there is a justification for such a division based on all relevant factors.
- Separate vs. Marital Property
The second crucial thing you should know about property division in Florida is that only marital property is divided between spouses during divorce. Marital property generally includes any property that was acquired during the marriage. On the other hand, separate property is any property that was acquired before the marriage. However, there are some exceptions to these definitions. For instance, an inheritance or gift given to one spouse during marriage is not considered marital property. It is also crucial to note that there are situations where separate property can be transformed into marital property. For example, if separate property is mixed with marital property, it can transform into marital property.
- Debts and Liabilities
Often, when people think of property division in a divorce, they only think about the distribution of assets. However, in Florida, property division does not involve assets only. It also involves debts and liabilities. If you and your spouse have joint debts, these debts must be accounted for when determining how property should be divided between you.
- Factors Considered When Determining What Constitutes a Fair Division
The following are some of the factors Florida courts consider when determining how to divide marital property between divorcing spouses;
- The contribution each spouse made to the marriage
- The spouses’ economic circumstances
- The length of the marriage
- The contribution of one party to the educational opportunity or personal career of the other party
- Any education or career interruptions of either spouse
- The intentional wastage or destruction of marital assets
- How Are Pets Handled in a Florida Divorce?
While you may view your pet as a cherished member of the family, the Florida legal system views pets as personal property. In a Florida divorce, pets are also subject to equitable distribution. For this reason, it is best for spouses to reach an agreement regarding the custody and care of their pets whenever possible.
Contact Us for Legal Help
When dealing with a Florida divorce, utilizing a qualified divorce attorney is crucial to ensuring your rights and best interests are protected. Contact our skilled Orlando divorce lawyers at the Arwani Law Firm to learn how we can help.
