EQUITABLE DISTRIBUTION (DIVISION OF PROPERTY)
The term “equitable distribution” is used by many Florida lawyers and judges to describe how marital property should be divided in a divorce case. What is considered ‘property’ in a divorce case? In a divorce property includes assets and liabilities. Assets are anything that you own or that generates income: a car, a business, bank accounts, retirement plans, jewelry, patents, land, etc. However, only ‘marital assets’ can be divided.
Although the word “equitable” is used, the term is somewhat of a misnomer as it refers to a statutory process and does not necessarily mean “equally”. Equitable distribution basically is the process of (1) separating marital and non-marital assets and liabilities; (2) assigning a value to marital liabilities; and (3) determining which party gets each marital asset or liability after the divorce. See the questions below where we explain more in depth what are considered marital assets and what are considered non-marital assets.
FLORIDA EQUITABLE DISTRIBUTION QUESTIONS
Below is a list of commonly asked questions that our West Palm Beach, Florida Family Law Attorneys receive about Equitable Distribution during a divorce in Florida. Equitable distribution is the division of property, assets and debts. Clicking each question listed below will provide you with a detailed answer.