Florida law sets considerations for property division

On Behalf of | Feb 16, 2017 | Property Division |

Property division in Florida can be a difficult issue for people going through a divorce. Unlike some other states, Florida law doesn’t stipulate that assets and debts have to be split down the middle. Instead, the law deems that all assets and debts must be divided equitably. This means that you and your ex won’t necessarily get equal settlements when the property is divided.

There are several points that come into the picture when you are trying to divide property. The first factor is how you and your spouse contributed to the marriage. This doesn’t automatically mean that if your spouse worked and you cared for the kids that you will be left out in the cold. Instead, your contributions to raising the children and caring for the home would be considered.

The length of your marriage is another factor that matters when you are dividing property. How assets were purchased and cared for can also come into the picture. Other factors might apply, such as a consideration of any opportunities you had to pass up because of the marriage.

When it comes to the marital home, the court usually considers the desirability to keep children in the home they know. In this case, whichever parent has custody of the children would likely get to keep the marital home.

Businesses and investments are also carefully considered during the process. If you built a business and your ex didn’t help or support you in the business, the court might allow you to hang onto it. This is a very complex portion of property division, so you should seek out individual answers if it pertains to your situation.

In all property division cases, you should think about how each division option will impact you now, as well as years down the road. This can help you to make choices that are in your best interest.

Source: Online Sunshine, “61.075 Equitable distribution of marital assets and liabilities.—,” accessed Jan. 27, 2017

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