If you have petitioned the Court for a dissolution of marriage, the Court will make an equitable distribution or division of all marital assets and debts. All cases are unique, and the specific results will vary based on the circumstances of each case.
Generally, an asset is considered marital if it was acquired during the marriage. It does not matter if one or both parties are on the title. It does not matter which party has possession of the asset. The enhancement in value and appreciation of a non-marital asset resulting during the marriage or from the contribution to or expenditure thereon of marital funds or other forms of marital assets is considered a marital asset. All vested and non-vested benefits, rights, and funds accrued during the marriage in retirement, pension, profit-sharing, annuity, deferred compensation, and insurance plans and programs are marital assets subject to Florida Equitable Distribution. Non-marital assets are those acquired before the marriage or by one spouse as a gift or inheritance. Non-marital assets remain the sole property of the party owning it, so long as the property was not “co-mingled” during the marriage. Marital debts are those incurred by either party during the marriage, without regard to which party incurred it.
The Courts try to make an equitable division of assets and debts.
Florida Equitable Distribution does not necessarily mean “equal” distribution. Courts may make an unequal distribution based on the parties’ circumstances and justifications.
The assets and liabilities of the parties are determined from the financial affidavits filed by each of the parties, or from further financial disclosure.