Florida law has established the principle of the equitable distribution of marital assets (bank accounts, stock accounts, real property, retirement accounts, business interests, and the like) and liabilities (debts of all types, personal loans, credit cards, mortgages, and the like) in a divorce case. The law requires the Court to presume that the distribution of marital assets and liabilities to the parties must be equal.
The Court is required to divide each party’s assets and liabilities into two categories: 1) marital assets and liabilities and 2) non-marital assets and liabilities. The statute defines marital assets and liabilities as all assets acquired or enhanced in value and liabilities or debts incurred during the marriage individually by either spouse or jointly by both. Non-marital assets and liabilities are those acquired before the marriage, after the filing of the dissolution action, or during the marriage if from a source unconnected with or unrelated to the marriage itself.
Although the statute begins with a presumption that the distribution must be equal, the law enumerates factors the Court should consider in making an unequal distribution of marital assets and liabilities. These factors include:
With the assistance of investigators, forensic accountants, business valuators, and appraisers, our Family Law attorneys will work to uncover undisclosed assets and determine the true value of such assets and liabilities. We assist in evaluating and analyzing assets and liabilities to help achieve a fair property division and develop and evaluate proposed settlements in our clients’ best interest.