In Florida, like in many states, courts aim to divide marital property in a divorce fairly and equitably. However, what is fair and equitable varies widely depending on specific circumstances since each case is unique.
The use of guidelines
To guide them during their determination, judges consider a combination of factors to decide on a fair division of property, including the following:
- Length of the marriage: How long the marriage lasted influences how courts may approach the division. For instance, the asset division in short-term marriages typically focuses on ensuring each party leaves the marriage with what they brought. On the other hand, long-term marriages are more complex since there are other considerations.
- Economic circumstances of each spouse: The court may award one spouse a larger portion of the assets if they are economically disadvantaged. This usually occurs if one spouse sacrificed career opportunities for the family or if there is a significant difference in earning potential between the spouses.
- Contributions to the marriage: This includes considerations of income and non-economic shares to the union, such as homemaking, child-rearing and supporting the other spouse’s career or education.
- Interruption of personal careers or educational opportunities: If one spouse sacrificed their career advancement or education for the marriage, the court may consider this when deciding what is fair in the division.
- Intentional dissipation of marital assets: If one spouse intentionally dissipates, wastes, depletes or destroys marital assets during the marriage or after the separation but before the divorce is final, the court may consider this when dividing marital property.
The divorce process can be overwhelming, so it is common to have numerous questions about its different aspects, such as property division. If you are going through a divorce and have questions about property division, having a knowledgeable and attentive legal representative by your side can help you find clarity and guidance throughout these tough times.