What Is Equitable Distribution?

Equitable distribution is the process of dividing or distributing marital assets and liabilities between divorcing spouses. Marital assets and liabilities refer to any debts incurred or assets that were purchased during the marriage. Marital assets can include vehicles, properties, and even cash. In the process of divorce, the State of Florida recognizes marital assets and liabilities, and the Court is required to divide them between each party fairly through the doctrine of equitable distribution. However, personal assets – assets that a spouse brought into the marriage – remain with the spouse and are not divided in this way. In many cases, partners assume that equitable distribution is 50/50 but that is not always the case. “Equitable” is not the same as “equal;” fairness often dictates that assets and liabilities must be split in some way other than right down the middle. Equitable distribution is determined and calculated on a case-by-case basis and there are many factors and circumstances that go into determining how marital assets and liabilities are divided.

Factors Involved in Equitable Distribution

The first factor that a court will consider is whether the assets and debts in question are marital or separate property. What seems like an easy answer can quickly become complicated. For instance, one spouse may have brought separate property into the marriage, but the other spouse’s contribution enhanced its value. Depending on the nature of the contribution, the value added might be considered marital property. Under Florida statute, some of the considerations in determining what division is equitable include: The duration of the marriage The roles and responsibilities of each spouse as caregiver to children and homemaker The economic footing of each spouse Whether one spouse contributed to (or paused their career or education for) the education or professional training of the other Whether there are assets or business interests that are more valuable when left undivided Whether it is in the best interest of a dependent child of the marriage to remain in the marital home Division of assets and liabilities is not a strictly financial question. An equitable distribution lawyer advocates for a client based on individual facts and in consideration of factors like these to obtain a fair division of marital property that does not leave the client short-changed.

How The Law Offices of Travis R. Walker Can Help

At the Law Offices of Travis R. Walker, we understand that every client’s situation is unique. We take great care in handling client cases and consider all circumstances in a case to ensure the best possible legal outcome. From a simple dissolution of marriage to more complex divorces, our team handles all types of divorce cases, including the following: Child support Child custody Equitable distribution Tangible and intangible assets Prenuptial agreements Postnuptial agreements Alimony Temporary relief Through mediation, hearings, and trials, we represent clients diligently and effectively. We work to ensure our client receives their deserved rights and benefits. Contact our legal team today for a consultation with a Stuart divorce lawyer.

Equitable Distribution of Assets in Florida

Home Florida Divorce Lawyer Equitable Distribution in Florida

Divorce is a difficult and emotionally taxing time, and asset distribution is often of paramount concern. Florida’s equitable distribution law accounts for individual circumstances, meaning that not all asset distributions are equal splits. When navigating equitable distribution, you deserve an experienced attorney who has your best interests in mind. The team of divorce attorneys at The Law Offices of Travis R. Walker, P.A., is ready to support you every step of the way.

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Florida marital property law states that assets and liabilities are divided during a divorce according to the principle of equitable distribution. Under equitable distribution, marital assets are split up based on a holistic view of what is fair to each party on a case-by-case basis rather than splitting everything 50/50, no matter what.

Equitable distribution considers a variety of factors, which means these proceedings are often complex. Understanding Florida asset division during divorce proceedings is essential to help you walk away with a fair and favorable outcome. The Law Offices of Travis R. Walker, P.A., team is here to help you navigate asset distribution and every other divorce-related matter.

Understanding Equitable Distribution

Florida utilizes an equitable distribution system under Florida Statute 61.075 when dividing marital assets and debts. With equitable distribution, the court considers each party’s circumstances rather than simply dividing property 50/50.

Equitable vs. Equal Distribution Florida

Equitable distribution is distinct from the principle of community property and equal distribution some states utilize. Community property states split assets and debts 50/50. In contrast, the goal of equitable distribution is fairness rather than total equality.

Types of Assets Subject to Distribution in Florida

When discussing assets subject to distribution, it is important to distinguish between marital vs. non-marital assets in Florida. There are several types of marital assets. The most common marital assets are those purchased or acquired during the marriage. Marital property also includes the appreciation or enhancement in value of assets resulting from the efforts of either spouse during the marriage.

There are also several types of non-marital assets. Some of the most common non-marital assets include assets that belonged to a party before the marriage, assets given to one spouse by someone other than their spouse—such as gifts or bequests—that were kept separate from marital assets, and income derived from non-marital assets that was not treated or used as a marital asset.

An experienced attorney can help you identify whether an asset is marital or non-marital.

Marital assets are subject to equitable distribution, but non-marital assets remain with the party that originally owned them.

Some examples of assets that are commonly involved in equitable distribution include the following :

Debts and other liabilities incurred during the marriage are also subject to equitable distribution. For example, if one of the parties took out a student loan before the divorce, this debt would be divided equitably between the two parties based on the circumstances.

Factors Influencing Asset Distribution in Florida

Florida equitable distribution factors that influence asset division include:

Each party's contributions to the marriage, including child care and homemaking
Length of the marriage
Financial circumstances of each party
Amount of debt and liabilities incurred by each party within the marriage
Contributions of each party in supporting the career or education of the other party

The judge will consider all these factors and other considerations on a case-by-case basis. Equitable distribution seeks to look at the whole picture to divide up assets in the fairest possible manner.

Prenuptial and Postnuptial Agreements in Equitable Distribution

Some spouses enter into prenuptial or postnuptial agreements to outline their desired distribution of assets and debts in the case of divorce. These agreements override equitable distribution considerations at divorce.

However, prenuptial or postnuptial agreements must meet certain requirements to be legally enforceable in Florida. Both parties must voluntarily agree, and each party must fairly and reasonably disclose their property and obligations unless the other party waives the right to such disclosure.

The Process of Equitable Distribution in Florida

After filing for divorce, the parties will start negotiating the distribution of assets. The approach to asset distribution varies based on the type of divorce. In an uncontested divorce, the parties will reach an agreement without court intervention. In collaborative divorces, couples choose to resolve these issues outside of the court system through mediation, while contested divorces must go through the legal process.

The parties will typically attempt mediation or negotiations before bringing a contested divorce to a judge. During mediation, a neutral third party will help the parties negotiate an asset division agreement. The mediator will guide both parties through reaching an agreement regarding asset division.

However, mediation is not always successful in settling asset divisions. When no agreement is reached during mediation, the next step is litigation. During litigation, the judge will hear from both sides and order the division of assets based on the principles of equitable distribution. This order is legally enforceable.

How the Divorce Lawyers at Travis Walker Can Help

Asset division is a complex and often overwhelming process. While equitable distribution helps make the division of assets fair and holistic, it is still time-consuming and complicated. Having experienced legal counsel on your side is beneficial when navigating the nuances of equitable distribution in Florida.

The Law Offices of Travis R. Walker, P.A., offers various services for divorce and asset division cases. We provide legal representation every step of the way, through mediation, hearings, and trials, to help guide you to a fair and equitable outcome. Past client testimonials describe our attorneys as insightful, professional, and proactive. Our skilled team of divorce attorneys is ready to offer compassionate and trustworthy legal services in your equitable distribution case.

We have experience handling complex asset distribution cases, including high-asset divorces and military divorces. Contacting a Stuart, Florida divorce lawyer at The Law Offices of Travis R. Walker, P.A., is an important first step in successfully navigating the asset division process.

Preparing for Your Case

When preparing for asset distribution during a divorce, gather all necessary information ahead of time to improve your chances of winning a fair and favorable outcome.

Gathering all financial documents, including bank statements, information on debts, tax returns, and loan paperwork, is an essential first step. Other necessary information might include items like the deeds to shared property. It is vital to be transparent with finances during this process—withholding financial information can result in punishment such as fines or even jail time.

Your attorney will help gather and preserve the necessary financial documents and other information. Working collaboratively with your attorney and being honest with them is the best way to prepare for your case.

We Can Help You Achieve Equitable Distribution in Your Divorce

Equitable distribution is the guiding legal principle when splitting up assets and debts in Florida divorce cases. The parties must consider many factors and equitable distribution determinations frequently become complex and confusing. Having professional legal assistance on your side can make navigating the equitable distribution process easier.

During difficult times, professional legal assistance is a valuable resource. The Law Offices of Travis R. Walker, P.A., has a team of top-rated equitable distribution attorneys who can property your rights and interests during the asset distribution process. We offer personalized guidance and representation in any divorce-related matters, including equitable distribution in Florida.

Contact us today at (772) 708-0952 and schedule a free case consultation to learn more about your legal options for asset distribution in divorce proceedings.

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