The state of Florida uses equitable division laws during the property division process, which isn’t always a 50-50 split for divorcing spouses.
Essentially, it is up to the court to determine what is fair (equitable) during the divorce. To do this, the court will consider several factors. Keep reading to learn more about what that means.
What’s considered when determining property division?
When it is time to divide property during a divorce, the court may look at the following:
- The contribution each spouse made to the marriage (this includes inside and outside the home)
- Both spouse’s income and economic situation
- The length of the marriage
- The health of each spouse and their ability to be gainfully employed
- If there are children involved and if the custodial parent of the children plans to remain in the marital home
- The intentional destruction or waste of marital property to prevent division
Remember that these aren’t the only things considered, just an overview. The court’s goal is to determine what is fair based on each party’s contribution, situation and needs.
It’s worth mentioning that only marital assets are up for the property division process. Marital assets include all assets and liabilities that are acquired during the course of the marriage by the couple or by one person. Non-marital assets include things like gifts, inheritances and similar items that were owned prior to the marriage or given to just one spouse.
Knowing your rights during property division in a Florida divorce
While the property division process can be confusing and complex, having a legal professional help you through it will be beneficial. They will ensure that you know your rights and what you are entitled to.