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Post-Divorce Planning Checklist (When You Receive Your Final Judgment) Once your divorce is finally over, whether it took four years or four weeks,
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Equitable Distribution in Tampa
Equitable distribution refers to the way that spouses in Florida divide their property and debts in a divorce. The court divides all marital property in an equitable fashion unless agreed to otherwise by the divorcing spouses. The courts consider equitable to be what is fair, and not necessarily equal. A spouse may receive between one-thirds and two-thirds of the marital property. A court’s analysis of a fair and equitable award will focus almost exclusively on the economic conditions of the parties at the time of divorce to determine what division of resources is fair. A court might consider: the length of the marriage; a spouse’s contribution as a homemaker; the parties’ relative earning capacities; consideration of one spouse’s absence from the job market; a spouse’s contribution to the other’s education or earning ability; the spouses’ respective financial needs, especially considering parenting duties; or the relative health of the parties and or disability of a party. Because Florida follows equitable distribution laws, it is not a community property state.
Equitable Distribution Solutions
Open Palm Law will fight for your marital assets to be distributed as equitably as possible. Open Palm attorneys understand important arguments regarding what property should be considered non-marital and those that are marital. They work to stay apprised of new case law regarding equitable distribution.
FAQs for Equitable Distribution
Florida is an equitable distribution state, meaning that the court divides all marital property in an equitable fashion unless agreed to otherwise by the divorcing spouses. The courts consider equitable to be what is fair, and not necessarily equal.
No. Only marital property is subject to equitable distribution. Marital property is all property acquired during the marriage.
Non-marital property includes property obtained during marriage by gift, bequest, devise or descent, or property otherwise provided for in a written agreement. Such property, along with any assets acquired before or after marriage, is considered the separate property of the acquiring spouse.
Yes, they are subject to equitable distribution.
Yes. If the parties to a divorce are able to agree to their property distribution, the court typically will allow it even if it one side receives more assets than the other. But if the parties cannot agree and have to litigate their divorce, the court can only equitably distribute the marital assets and liabilities.
No. Florida has adopted what is known as “equitable distribution.” Under the “equitable distribution” scheme, marital property is fairly divided between the parties.