Equitable Distribution in Florida: How Courts Divide Marital Assets and Liabilities

In Florida, property division is handled under the equitable distribution statute. Normally, the court will equally or equitably divide the marital assets and marital liabilities. This means that any asset that has been acquired during the course of the marriage is subject to equitable distribution. Likewise, any liability or debt incurred by either party during the course of the marriage is also subject to division. 

What Florida Courts Take Under Consideration

For identification purposes, the court typically will use the date of filing a divorce action to determine a marital asset and marital liability. However, the court is permitted to use different dates for valuation purposes. We normally prepare a chart, taking all the assets and liabilities into consideration. The court is going to want to divide the assets and liabilities equally. This does not mean that every asset or liability would be divided or cut in half. The court will fashion a distribution by creating two different columns, one for each party, and then the judge will place certain assets in one party’s column and certain assets in the other party’s column. 

The court will also do the same thing with the party’s liabilities or debts, like loans, mortgages, and credit card debt. This way, each party will be left with the same amount as the other party.

Our firm handles divorce and family law cases throughout Florida. If you have any further questions, please don’t hesitate to call us, and we will be happy to discuss them with you and provide more details.

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The Florida divorce lawyers at Winthrop Law Offices, P.A., are dedicated to providing every client with the answers they need to make informed decisions. Contact our firm today to schedule a free consultation.