Boynton Beach Equitable Distribution
If you are considering divorce, or are already involved in a divorce case, one of your main concerns is likely your financial assets. Under Florida law, each divorcing spouse is entitled to equitable distribution of the marital assets. The term “equitable distribution” is somewhat misleading; usually, marital property is not divided equally. Rather, equitable distribution means that marital property is divided fairly based on a number of factors. Equitable distribution of the marital property is a complex process that can be decided in court by a judge or through out-of-court settlement. For more information on equitable distribution, contact Alan Robert Burton, Attorney at Law. For over 35 years, I have helped Florida residents protect their rights and property during divorce. Contact me now for a free initial consultation.Divorce and Equitable Distribution in Boynton Beach
A judge has a significant amount of discretion if he or she is tasked with making the decisions regarding how marital property is distributed. Though the judge can divide marital property equally, this is certainly not always the case. If the judge decides not to equally divide the property, he or she must consider certain factors when making the decision. Some of the factors that will be considered include:
- Assets acquired and liabilities incurred during the marriage, individually by either spouse or jointly;
- The enhancement in value and appreciation of non-marital assets resulting either from the efforts of either party during the marriage or from the contribution to or expenditure thereon of marital funds or other forms of marital assets, or both;
- Interspousal gifts during the marriage; and
- All vested and non-vested benefits, rights, and funds accrued during the marriage in retirement, pension, profit sharing, annuity, deferred compensation, and insurance plans and programs.
Like all family law cases, issues of equitable distribution are determined by the specific facts of that case. For equitable distribution matters, what is and what is not marital property is an essential determination. Non-marital assets and liabilities include the following:
- Assets acquired and liabilities incurred by either party prior to the marriage, and assets acquired and liabilities incurred in exchange for such assets and liabilities;
- Assets acquired separately by either party by non-interspousal gift, bequest, devise or descent, and assets acquired in exchange for such assets;
- All income derived from non-marital assets during the marriage unless the income was treated, used or relied upon by the parties as a marital asset; and
- Assets and liabilities excluded from marital assets and liabilities by a valid written agreement of the parties, and assets acquired and liabilities incurred in exchange for such assets and liabilities.
To win your equitable distribution dispute, you will need an experienced family lawyer who can advocate your side of the facts in court. With extensive legal experience and a unique approach to client representation, I will provide reliable, straightforward legal advice. Call my office today at (954) 229-1660 for a free initial consultation.