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Showing posts from June, 2013

What is Equitable Distribution?

“Equitable distribution” refers to the way that spouses in Florida divide their property and debts in a divorce. Generally “equitable” means a fair division of assets and liabilities.

Dividing the family's property during divorce can be challenging, especially if the marriage has accumulate a lot of big ticket items, such as: houses, rental property, retirement and pension plans, stock options, restricted stock, deferred compensation, brokerage accounts, closely-held businesses, professional practices and licenses, etc. When dividing assets, the Court considers the value of the asset, amount of debt incurred by each party, and is the property marital or separate property.
Division of Property by Agreement
Couples can make their own agreements about dividing property either on their own or with the help of a mediator. Courts generally uphold such agreements as long as they are in writing and each spouse has had an opportunity to consult with an independent attorney.
Division of Prope…