What Are The Key Factors That Impact Property Division In Divorce In Florida?
Are you preparing for a divorce in Florida? You may have a lot of questions about property division. Financial issues are often among the most challenging and contentious in divorce cases. It is useful to have a comprehensive understanding of the factors that Florida courts will consider in property division matters. Here, our Clearwater property division attorney puts together a basic guide of the main factors that impact the distribution of property and assets in a divorce in Florida.
The Law: Florida is an Equitable Property Distribution State
Under state law (Florida Statutes § 61.075), property in a divorce is divided in an equitable manner. How does it work in practice? Marital assets and debts are divided fairly—but not necessarily equally. Non-marital property (separate) assets are retained by the individual spouse.
An Overview of Factors that Determine Equitable Property Division in Florida
What factors go into determining a fair division of marital property in Florida? It is a comprehensive legal standard, so courts can review a wide range of issues. Here are some notable factors that determine what constitutes an equitable distribution of assets in Florida:
- Spousal Contributions: One of the primary factors in determining equitable property division is the contributions each spouse made to the marriage. These contributions can be both financial and non-financial in nature, such as income earned during the marriage, enhancement of marital assets, and contributions to the care and education of children.
- Economic Circumstances: The economic circumstances of each spouse are taken into account when dividing marital property. This may include the financial resources and assets each party has at the time of divorce, as well as their ability to earn an income in the future.
- Duration of Marriage: The length of the marriage can play a significant role in determining equitable property division.
- Personal/Career Sacrifice: In some cases, one spouse may have sacrificed their personal or professional goals for the benefit of the other spouse or the marriage as a whole. If one spouse gave up a career or educational opportunity to support the other or to raise children, the court may consider it.
- Intentional Dissipation or Waste: If one spouse intentionally dissipated or wasted marital assets, either in anticipation of divorce or during the divorce proceedings, the court may take this into account when dividing property.
Finally, it should be emphasized that Florida courts can also consider “any other factor” deemed relevant to determine an equitable distribution.
Schedule a Confidential Consultation With a Clearwater, FL Property Division Lawyer Today
At the Law Office of Gale H. Moore P.A., our Clearwater divorce attorney has the professional legal and financial expertise to help clients navigate complex property division issues. If you have any specific questions or concerns about property division and divorce, we are here to help. Contact us right away for a completely confidential consultation. We handle property division matters in Clearwater, Pinellas County, and throughout Florida.
