Factors Influencing Equitable Distribution in Florida

Dividing the marital estate is one of the most primary concerns during a divorce proceeding. The question then becomes: What Florida rules apply and how do the courts reach a decision when it comes to determining which assets go where? This is an important question, and unfortunately, it doesn’t have an easy answer. The courts base their decisions on several factors, many of which we’ll discuss below. In this article, the Tampa, FL divorce lawyers at Westchase Law P.A. will discuss what factors influence equitable distribution in Florida.

Marital versus separate property 

The first thing a court must determine is whether or not the property belongs to an individual spouse or the marital estate. Generally speaking, all property that is brought into the marriage is considered separate property. All property acquired during the marriage is considered property of the marital estate. Only marital property is subject to division in Florida. Understanding what qualifies as marital or separate property is the first key to determining whether or not it is subject to division.

The length of the marriage 

The marital estate is composed of assets and property that were acquired during the marriage. Hence, those who have been married longer tend to have larger marital estates. The length of the marriage plays a huge factor in determining the size and scope of the marital estate. Further, longer marriages tend to result in a more equal division of assets. In shorter marriages, on the other hand, the courts may seek to return each party to the financial status they enjoyed before the marriage.

Contribution to the marriage 

The Florida courts will consider each spouse’s contribution to the marriage. This includes both financial contributions and non-financial contributions such as homemaking and child-rearing. A spouse who sacrificed career opportunities to support the family could receive a larger share of the marital estate than 50%. By recognizing the value of non-financial contributions, the court ensures a fairer division of the marital estate.

Economic circumstances of both parties 

The court will consider the current and future economic circumstances of each spouse. Courts will look at factors such as earning capacity, job prospects, and the health of both spouses. A spouse who has limited earning potential might receive more assets during distribution to ensure their financial well-being post-divorce.

The needs of the children 

For couples with children, the child’s needs can influence asset distribution. Courts will prioritize the child’s well-being. This means awarding the family home to the custodial parent to reduce the amount of change and turmoil in the children’s lives. The financial needs of the children will be considered when the court divides the marital estate.

Talk to a Tampa, FL Divorce Lawyer Today 

The Tampa, Florida divorce attorneys at Westchase Law, P.A. represent the interests of those pursuing a divorce. Call our office today to schedule an appointment, and we can begin discussing key aspects of your divorce such as equitable distribution of the marital estate, alimony, child custody, and child support.