Florida state law requires that marital assets be equally distributed among the two parties. The first thing that the judge will determine in a divorce case is how the assets will be divided. After the judge determines who will get what other issues like child support and alimony can be addressed. The procedures that judges are required to follow is established by Section 61.075 Florida Statutes.
Even though marital assets are required to be divided equally, unequal distribution may be allowed if there is just reason for it. Some of the factors that can warrant unequal distribution include the economic situation of both parties, how much each spouse contributed to the marriage, interruption of educational or career opportunities by either party party and the desire to retain an asset. That is why marital assets are not always divided 50/50.
The statute defines marital assets. Liabilities, assets and income that are incurred or acquired during the marriage are classified as marital assets. Gifts from others and assets that one had prior to marriage are typically classified as non-marital assets. Non-marital assets are not divided between the parties. That is why the courts must determine what assets are considered marital.
There are some surprises that come along with this statute. A non-marital asset could be considered marital if it increases in value because of one or both parties. If that occurs, then the court has to determine the portion of the asset that is marital. They will then divide the marital portion between the two people. Gifts that the spouses give to each other are considered marital. Personal or real property that is titled jointly is also considered a marital asset.
Because Florida law can make dividing up assets complicated, it is best to contact a Florida family law attorney. You need the Fort Lauderdale divorce lawyers who have the experience that is necessary for taking on your case. If you need an attorney, then you should contact the Law Offices Of Ben I. Farbstein. Ben has had over 25 years of experience in dealing with family law matters, including divorce. He understands all of the pain and frustration that comes along with going through a divorce. That is why Ben strives to help people divide up their property as quickly and amicably as possible so that they can start moving on with their lives.