How Marital Assets and Liabilities are divided in Florida

This is an often asked question. Florida is an equitable Distribution State. That usually means that all assets and all liabilities acquired from the date you say “I do” until the date one of the spouses files a Petition for a Dissolution of Marriage, no matter whether titled jointly or in one of the parties names is a marital asset or liability. It needs to be valued and split. Attorneys and the courts endeavor to value and split the assets and liabilities evenly absent extenuating circumstances.

Sometimes a party wastes marital assets through gambling or on a paramour, for example. In order to have the court order those assets that are wasted by allocated to the party who wasted them you must prove that marital assets were used for a purposes that did not further the marriage. In reality, this is a high burden to meet. usually only proof on monies spent on a paramour will suffice. A bad investment absent proof it was made with ill purposes will not be enough.

It is advisable for the unrepresented client to read the statute carefully and consult an attorney. See 61.075 Fla. Stat.

Law offices of Elizabeth Wolt (239)  353-9988

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About Beth

Elizabeth Wolt is an AV rated marital and family law attorney. She runs a boutique law firm catering to a select group of clients taking on a low number of cases so she can devote individulaized attention during this difficult transition. Identified as one of the Best and Brightest college Students by USA Today in 1994. Featured in a cover article on May 8, 1997 of the Wall Street Journal. Graduated Magna Cum Laude from Undergraduate School- University of South Florida with a BA in Psychology 1994. Graduated Cum Laude from University of Miami School of Law- JD.1997. Named to the list of "Top Lawyers in Florida" by the Legal Network 2013, 2014, & 2015. AV rated by Martindale Hubbel in both ethics and ability. Rated "Excellent" by AVVO legal.com Featured in the American Lawyer December 2014
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