Property Division / Equitable Distribution

The Equitable Division of Property in Florida Divorce

There have been some significant changes to the law that affect how Florida family court handles marital property division (assets and debts). The first change involves how the courts view separate property brought into the marriage; the second involves an interim partial distribution of property so a couple can move forward.

What has not changed is the complexity involved in the equitable distribution of marital assets. Among the many tasks undertaken by a divorce attorney to protect a client's rights and interests in a property settlement agreement are these:

• Documenting property and identifying whether it is marital or non-marital property
• Valuing marital property and, in some cases, establishing the increased value of an asset during the time of the marriage in order to divide only a portion of the value of that asset
• Understanding the tax implications inherent in the division of some assets
• Properly dividing complex assets, such as pension funds and family-owned businesses

At the Fort Lauderdale law office of Giunta & House, P.A., we stay up to date on all aspects of Florida divorce law. Attorney Stuart House focuses his law practice exclusively in this area, ensuring he has the depth and breadth of understanding needed to protect your rights, your children, and your future as you go through the process of divorce.

To schedule an initial consultation, call 954.928.0100, or contact Giunta & House, P.A., online. We are committed to providing effective legal advocacy to ensure your property rights are protected in marital separation and divorce.

Seeking fairness in property division

Florida Divorce Law has provisions for fairness in the division of property between the parties to a divorce. Generally speaking, the assets acquired by the parties during the marriage are divided on what the courts term an "equitable" basis. While an equitable division of property is often an equal division of property, the determination of what is equitable in any given case depends on the specific circumstances of that particular case. Sometimes there are premarital assets which, as a result of the conduct of the parties during the marriage, are transformed into marital assets. Sometimes there is the contribution of a premarital asset toward the acquisition of a marital asset. Sometimes assets may have a marital component, as well as a non-marital component, and it is critically important that in such circumstances the appropriate valuations are assigned to the marital component and the non-marital component. Under prior law, this was usually accomplished by bringing a "special equity" claim. However, these claims were typically valued if and when recognized by the Court, by the application of a somewhat complex formula, which often resulted in the claim being undervalued. Under current law, a spouse can pursue such a claim by asking the Court for an unequal equitable distribution in their favor, in an effort to keep the value of the claim from being undervalued.

Florida law also seeks to increase fairness for spouses of people who have been financially irresponsible, which is often the case when gambling or addiction is involved. If one partner has wrongfully dissipated the marital estate, the injured spouse can ask for an increased share of the assets on the basis that the estate was worth more before it was wrongly spent.

Under a claim of "wrongful dissipation of marital assets" a spouse can seek recovery of unreasonable dissipation (wrongful spending) incurred for up to two years prior to the divorce filing.

Stuart House is a skilled, aggressive and experienced family law attorney familiar with the subtleties and nuances of equitable distribution and will ensure that your property rights are zealously safeguarded.

Contact Giunta & House, P.A., for an initial consultation with an experienced Fort Lauderdale divorce lawyer.

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