Division of Property
The State of Florida is considered an “equitable distribution” state.
The spouse’s non-marital property is retained by that spouse. Non-marital property is any property that each spouse acquired before they were married as well as property that was gifted or inherited.
The court assumes that all marital property (property obtained during the marriage) is divided equally based on the following factors:
- How each spouse served to contribute to earn or acquire said property—this would also include serving in the capacity as a homemaker
- The length of the marriage
- The age and overall health and wellbeing of the spouses
- The income and sources of income of both spouses
- The assets, liabilities, and needs of each spouse as well as the opportunity of each for further acquisition of such
- The standard of living which was established during the marriage
- The time that would be necessary for a spouse to become educated and find appropriate employment
- Any other factor necessary to do equity and justice between the spouses
Marital misconduct is not specified as a factor but all retirement, pension, profit-sharing, and insurance is considered.
In the case where the marital home will be sold or retained by one of the parties, specific guidelines must be followed that include:
- Contributions of both spouses to the marriage, including time, spent as a homemaker or caring for children
- The financial picture of both of the spouses before marriage and currently
- The length of the marriage
- The contribution of one spouse's career or education because of the marriage or child-rearing
- The desire to keep a business, investment or other interest away from the other spouse
- The contribution of spouses to an improvement of marital assets
- The desire to retain marital home as the residence for children
- Intentional waste or disposal of assets
- Other pertinent factors
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