How do the Courts divide property in a divorce?
Florida uses an approach referred to Equitable Distribution when dividing a couple’s marital property in a divorce. Equitable Distribution is where the couple’s joint property is divided fairly (this doesn’t always mean equally) between them. There are a few factors the judge will take into consideration when making that decision. Such as:
- The contributions of each spouse to the marriage
- The economic circumstances of each party
- The duration of the marriage
- If either spouse had to interrupt their personal career or put their eduction on hold during the marriage
- The contribution of one spouse to the education or career of the other
- One side’s desire to retain a certain asset
- The contribution of each spouse in obtaining, enhancing, and producing income of that asset
- Whether or not there is a reason to maintain the marital home for a child’s benefit, and if that’s a reasonable possibility
- If one spouse intentionally wasted or depleted marital assets