Are you curious how our Florida courts divide your assets and liabilities in a divorce? Equitable Distribution is the fancy term given to the fair division of what you own and what you owe between you and your spouse. Let me help you understand equitable distribution with a story.
A couple of weekends ago, our neighbor who recently sold her house was having a massive yard sale. Almost no parking is available in front of her home. The hoards were squeezing their cars along the side of our Saturday-busy road and onto our easement and into our driveway. What an invasion!
As my wife and I peered out the window like a couple nosy neighbors, we traded exclamations regarding the audacity of some people and their inability to observe our boundaries. Hey, that’s our driveway! Get the heck off our easement – we just mowed!
The thing is, the cars had a right to be on the easement. Maybe not in the driveway, but the easement was fair game. And yet, we perceive the easement as our land because we take care of it. We think we have the sole right to the use of the property.
For those of you going through a Florida divorce, do you know that your spouse may be entitled to a significant portion of your retirement benefits? The 401(k) you view as your sole property may be divided between you and your spouse in your divorce. Would it surprise you to learn that your spouse may be entitled to a portion of the value of your pre-marital assets (those things you acquired before you were married), if for example, you have taken such action such as co-mingling or maintaining them with marital funds? The value of that property you acquired before you were married may be on the table in the equitable distribution of your marital assets.
Equitable distribution can be a challenging matter in your divorce, depending on what type of assets you own together and separately. It also may be difficult as a non-lawyer to ascertain what is and what is not considered fair game in the equitable distribution of your marital assets. Let me help you navigate this often murky matter. An initial consultation with a good family law attorney might help you gain the clarity and understanding you need. Give me a call at (407) 872-3161 or contact me through my firm’s contact form.