In terms of asset division, Florida is an equitable distribution state. This means in the event of marriage dissolution when dividing the marital assets, the court will begin with the premise that the distribution should be equal unless there is a justification for an unequal distribution based on other relevant factors.
Depending on the length of the marriage, it may sometimes be difficult to determine which assets were acquired before the marriage and which assets were acquired during it. In this event, consulting with a family law attorney may be beneficial.
Contact Adkinson Law Firm, LLC to discuss your asset division case in the Florida Panhandle, including the areas of Laurel Hill, Mary Esther, Westville, Jay, Pensacola, DeFuniak Springs, Ebro, Chipley, and the surrounding areas. The attorneys of Adkinson Law Firm, LLC are experienced in asset division, and will dedicate their time and energy to ensuring your assets get fairly distributed.
Call Clay Adkinson today at for a consultation on your asset division case, in Destin and the surrounding areas. Your initial consultation is free, and it is the first step towards fighting for your fair share.
Examples of assets are property, money, stocks and bonds, retirement accounts, and other benefits. In Florida, marital property includes all assets and debts either spouse acquire during the marriage, regardless of if the property or debt is jointly owned or titled under an individual spouse’s name.
For example, if one spouse opens numerous credit card accounts using only their name, both spouses are responsible for the charges made on the card, unless your attorney can prove that your spouse wasted assets or partook in reckless spending.
If non-marital property increases in value during the marriage, as a result of the contribution of marital funds, or active efforts of either spouse, the increase in value can be deemed as marital property. Examples include working together in a business, using marital funds to invest in a previously owned business, and maintaining or renovating a home with marital funds.
Non-marital property can also become marital property through a process known as “commingling.” One way this can happen is if marital funds are deposited into a premarital account. In this case, the funds in the premarital account become marital property.
Another way this could happen is if one spouse pays the mortgage on a separately owned property with marital earnings. In this situation, the property separately owned may become marital property. These situations can sometimes make it difficult to decipher between marital and non-marital property, making it necessary to hire an experienced attorney.
During a divorce, spouses can make agreements about the division of assets either on their own or with the help of their independent attorneys. Courts generally uphold these agreements as long as they are in writing.
If a couple can’t reach an agreement, an arbitrator or judge will decide. According to Fla. Stat. § 61.075, the following factors are commonly used to determine the distribution of assets:
Courts will also consider how difficult it is to divide certain assets. For instance, if one spouse started a business before or during the marriage, a judge may see it fit to award the business to that spouse and award other property or assets to the other spouse in order to make up the difference.
Also, it is impractical to divide a house, and award parts to each spouse. However, a judge might order the couple to sell it and divide the proceeds.
If you need legal assistance with dividing assets in your divorce case, contact Adkinson Law Firm, LLC today. DeFuniak Springs family law attorney Clay Adkinson represents clients all over the Florida Panhandle, including Century, Jay, Noma, Bayou, Carville, Paxton, and the surrounding areas.
Contact the Adkinson Law Firm, LLC today for a free consultation at or send an online message about your asset division case.