What does it mean to get a divorce in an equitable distribution state? If you are getting divorced in Florida, this applies to you. While some states are community property states, Florida is one of the equitable distribution states.
Community property states are where both spouses equally own both income and assets of the marriage. Therefore, in the case of a divorce, those will also be split among the spouses equally. That applies to the debts of the spouses as well.
But that is not so in an equitable distribution state. In an equitable distribution state, income and assets earned during the marriage will be fairly divided. Fair does not always mean equal. 50-50 distribution may not always be fair. In an equitable distribution state, there are several factors being considered.
The contribution towards the marriage by each spouse will be considered. This contribution need not solely be financial support. One spouse may have dedicated their entire life to earn for the family and for their career. The other spouse may have cared for the children and the home while supporting the other spouse’s career. Both these contributions will be considered as contributions towards the marriage. The child’s best interests will be considered when the family home is taken into consideration. The time duration of the marriage and each spouse’s willingness to retain assets will also be considered.
Your Family Law Attorney can help you divide the marital assets in a fair manner between the spouses. Family Law Attorney Orlando, Erin Morse is always ready to help you out in family law cases. Property division is an especially difficult part of a divorce. It is best to obtain the legal counsel of a Family Law Attorney in this regard. Call Erin Morse Law Office right now to get an initial appointment to start discussing your case.