Contrary to what you may have heard, during a divorce, you may not always get exactly half of everything. This includes your house, cars, money in a bank account, and more. Like most states, in Florida, marital property is divided by equitable distribution.
What is Equitable Distribution?
Equitable distribution is the process of dividing marital assets and property by whatever is fair but not necessarily an equal division of property. This means that the split won’t be 50/50.
How is Equitable Distribution Determined?
During your divorce, it’s important that you list all of your assets, whether you had them before or during your marriage, so that you can show your attorney what you would like to keep and make requests for distribution. You can ask your attorney to help you negotiate what you’re asking for, but often a judge will look at several factors when making a decision for property division:
- You and your spouse’s income during your marriage.
- Your financial contributions during the marriage.
- The length of your marriage.
- Any marital or separate debts you owe.
- Your children’s expenses, medical care, and education.
Your property will also be categorized as separate property or marital property for a fair distribution.
What is Marital Property?
Marital property in Florida is all of the assets and debts you and your spouse acquired while you were married. This includes debts, income, retirement funds, profit-sharing accounts, income from a business, and more. Otherwise, any other property you had outside of your marriage would be considered separate property.
What is Separate Property?
Separate property in Florida is a non-marital asset or property you owned before the marriage, inherited, or received as a gift during the marriage. This could include debts or property you both agree to be separate in a written agreement with the help of your property division attorney.
Pensacola Property Division Attorneys
If you’re unsure about the property division process and you’re not confident that you will get your fair share of your assets, let our attorneys at Autumn Beck Blackledge PLLC do the heavy lifting and get what’s fair for you. We can help you negotiate your property division case and guide you through your divorce.
Contact our office today at (850) 404-7263 to schedule a consultation with one of our experienced divorce attorneys!