During a marriage, couples in Florida share their lives together. They generally live in the same home, divide the familial responsibilities and other aspects of their lives. Each marriage is unique though and couples share these various aspects of their lives depending on circumstances of the spouses and their children. If a couple ends up going through a divorce though, they will need to divide the life they shared into two separate lives.
This is not always an easy process though, especially if they have minor children or a large amount of assets and property. Most property that the couple acquires during the marriage is considered marital property. This is true regardless of which spouse’s name is on the title or on a bank account. If people obtained the property or gained money in an account during the marriage, their spouse has a marital claim to it.
Equitable division of property
Marital property is divided equitably in Florida. This could mean equally, but that is not always true. When determining an equitable division of property, there are a number of factors that the courts will analyze. These factors include, but are not limited to:
- The contributions of each spouse to the marriage, which includes contributions for the care of the children.
- The duration of the marriage.
- The economic circumstances of each spouse.
- Each spouse’s work history, education and whether they left the workforce to allow the other spouse to further their career.
- Whether the custodial parent should keep the home for the children.
- Each spouse’s contribution to the acquisition of the property.
- Whether one spouse has dissipated assets.
- Other relevant factors.
Dividing marital property in Florida can be a complicated process. This is especially true when the spouses have very unequal income or have many assets that will require complicated valuations. Experienced attorneys understand how property is divided in Florida and may be able to guide one through the process.
