Equitable distribution is a term often referred to when considering or following the process of divorce in the State of Florida. Many times, this term is misinterpreted to mean equal or half. In fact, it is fair distribution of marital assets, not inclusive of separate property, which may include property acquired by inheritance or gift, or personal injury payments.
Marital property includes:
- All property (other than separate property) purchased during the marriage, no matter the tile
- Pension plans
- Retirement plans
- Various other items of value
Each party is required to provide a financial affidavit and the court will divide the property based on the some of the following considerations:
- Length of marriage
- Each party’s financial situation
- Housing desires for minor children
- Each party’s contribution with respect to finances and parenting
- Consideration if one party interrupted a career or education or contributed to one party’s career or education
- Consideration on intentional destruction to marital assets
Every case is so unique. Holly Gershon has years of experience helping families with divorce including the process of equitable distribution.