What is Equitable Distribution?
Equitable distribution is the process of dividing marital assets and debts in a divorce. In Florida, the presumption is an equal split, but you and your spouse can agree on a different arrangement. Collaborative Divorce often makes this process smoother and less expensive than going to court.
Understanding Equitable Distribution
Equitable distribution is how marital assets and debts are divided when you divorce. Florida law begins with the assumption that the division of the marital assets and liabilities should be equal. That does not mean every item is split in half. Instead, it means the total value of what each of you receives is intended to be fair, usually equally divided.
Marital and Non-Marital Property
The first step is deciding what is marital property and what is not. Assets you owned debts you had before your marriage are generally considered non-marital and stay with you. Anything gained during the marriage, such as homes, vehicles, savings accounts, or credit card debt, as a result of work efforts is usually marital and included in equitable distribution.
How Values Are Determined
After assets and debts are identified, they need to be valued. Sometimes this is easy, such as checking a bank statement. Other times, like with real estate or valuable personal property, an appraisal may be necessary. If you and your spouse cannot agree, the process can become expensive, especially if both of you hire separate experts to argue in court over values.
Collaborative Divorce vs. Litigation
Litigation means conflict and high costs because each side hires its own accountants and appraisers. Collaborative Divorce takes a very different approach. In the Collaborative Process, you and your spouse each have an attorney, but you also work with a team of neutral divorce professionals to guide you through financial and family issues. The team includes a neutral financial professional who gathers and organizes financial information, explains the difference between marital and non-marital assets, helps project budgets for life after divorce and outlines options for dividing property. The other typical neutral is a mental health professional, who supports communications and co-parenting, along with other specialists as needed. Because you share one team rather than battling against each other, the process is usually less expensive and far less adversarial. Collaborative Divorce allows you to focus on creative solutions that fit your family instead of leaving decisions in the hands of a judge.
Why Agreements Matter
If you and your spouse reach an agreement about dividing assets and debts, a judge will usually approve it. That allows you to design a settlement that considers not just financial value but also personal meaning. For example, one spouse may keep a family heirloom while the other takes another asset of equal value. Courts focus only on numbers, while the Collaborative Process allows you to decide what truly matters.
Contact the Law Offices of Robert J. Merlin
If you are preparing for divorce, it is important to understand how equitable distribution works. The Law Offices of Robert J. Merlin will give you the information and direction you need to make informed choices. Contact Robert J. Merlin at (305) 448-1555 to schedule a consultation.
The Law Offices of Robert J. Merlin, P.A. are located at 250 Catalonia Avenue, Suite 706, Coral Gables, Florida 33134.
Bob Merlin is a Florida Bar Board Certified Family Law Specialist, he practices in the areas of divorce, time-sharing of children and parenting plans, child support, alimony, paternity, pre-nuptial and post-nuptial agreements, and cohabitation/partnership agreements.
As an experienced Collaborative attorney, Bob continually hones his skills in the Collaborative Process and trains other professionals how to become a Collaborative professional as he is.
“My goal is to help divorcing and other family law clients make well-informed decisions so they experience a more efficient process and feel more in control over their futures.”
