While courts presume that an equitable division means equal, it is up to the judge to divide marital property in a different proportion if there is reason to believe that a 50\/50 split would not be fair. Under Section 61.075, Florida Statutes, judges must consider the following factors to divide property in an equitable manner:<\/p>\n
- \n
- The duration of the marriage;<\/li>\n
- Each spouse\u2019s financial and employment status;<\/li>\n
- Each spouse\u2019s contribution to the marriage;<\/li>\n
- Any interruption in a spouse\u2019s education or career during the marriage;<\/li>\n
- Either spouse\u2019s marital misconduct during the marriage (e.g., adultery or wasteful dissipation of marital funds);<\/li>\n
- Each spouse\u2019s contribution to the career or education of the other spouse;<\/li>\n
- Each spouse\u2019s contribution to acquiring income and improving marital assets; and<\/li>\n
- Debts incurred by either spouse during the marriage.<\/li>\n<\/ul>\n
As you can see, courts consider a variety of factors when dividing marital property upon divorce. For this reason, it is vital to gather plenty of evidence to protect what\u2019s rightfully yours and ensure that marital assets are split fairly.<\/p>\n
What is Considered Marital Property in Florida?<\/strong><\/p>\n
Many people do not fully understand the difference between marital and non-marital (separate) property in Florida divorces. Prior to dividing property in a divorce, courts must categorize assets as either marital or non-marital.<\/p>\n
In Florida, separate property is not subject to equitable distribution in a divorce. As a rule of thumb, any assets acquired during the marriage are considered marital property. Common types of marital assets include:<\/p>\n
- \n
- Real estate, including the marital home<\/li>\n
- Cars<\/li>\n
- Income<\/li>\n
- Business<\/li>\n
- Investments<\/li>\n
- Collectibles<\/li>\n
- Artwork<\/li>\n
- Jewelry<\/li>\n
- Antiques<\/li>\n
- Bank accounts<\/li>\n
- Retirement accounts and pensions<\/li>\n
- Income separate property<\/li>\n
- Assets or property acquired in exchange for separate property<\/li>\n<\/ul>\n
Separate assets, on the other hand, are any assets owned by either spouse before the marriage. Also, under Florida law, gifts and inheritances received by the spouses before or during the marriage are not subject to equitable distribution.<\/p>\n
Why You Need an Orlando Property Division Lawyer<\/strong><\/p>\n
It is imperative that you retain an experienced property division lawyer to protect your rights during a divorce in Florida. While you could reach a settlement agreement with your spouse outside of court, doing so is not recommended if you do not have an attorney.<\/p>\n
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