The objective of the division of property and assets stage is to outline who gets what as the outcome of divorce proceedings.
Property division in Florida divorce proceedings are governed by Florida Statute 61.075. This statute states that:”In a proceeding for dissolution of marriage, in addition to all other remedies available to a court to do equity between the parties, or in a proceeding for disposition of assets following a dissolution of marriage by a court which lacked jurisdiction over the absent spouse or lacked jurisdiction to dispose of the assets, the court shall set apart to each spouse that spouse’s nonmarital assets and liabilities, and in distributing the marital assets and liabilities between the parties, the court must begin with the premise that the distribution should be equal, unless there is a justification for an unequal distribution based on all relevant factors”.
There are some important factors to consider when planning the distribution of assets during the divorce.
- Each party’s current economic standing
- Duration of the marriage
- Overall contribution to the marriage from either spouse (Time spent parenting or as a homemaker)
- Any contributions made to the career or educational advancement of their spouse
- Either individual’s contribution to finding new streams income
- Debts and liabilities incurred by either party. These can be marital or nonmarital assets
- The destruction of marital assets in a 2 year period leading up to the divorce may also disqualify you or your spouse from certain rights during divorce proceedings.
The division of property can be a very complex matter. Therefore, the only way to guarantee you receive a fair hand in the proceedings is to contact an experienced family law attorney immediately. An attorney will help you form an agreement that properly considers the rights and responsibilities of you and your former partner.
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John Schutz
Partner at John F. Schutz, P.L.
Representing clients exclusively in family law cases for the past 24 years, Mr. Schutz is widely regarded as a marital and family law expert. He is Board Certified in marital and family law by The Florida Bar. As a Fellow of the American Academy of Matrimonial Lawyers (AAML), Mr. Schutz is committed to elevating the standards and improving the practice of family law.
Latest posts by John Schutz (see all)
- Is a Simplified Dissolution of Marriage a Viable Option? - October 29, 2019
- What are the Types of Alimony in Florida? - October 19, 2019
- Property Division In Florida - October 8, 2019
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