Ask a Miami divorce lawyer: What is equitable distribution?
A divorce is a difficult process – both financially and emotionally – and there are important issues you’ll need to discuss with your Miami divorce lawyer to ensure that the situation resolves itself in a way that is fair to both you and your spouse. One essential topic that must be addressed is how to legally divvy up your shared property.
In some parts of the country, possessions acquired during a marriage are considered community property, and as such, they are split 50-50 between each party. However, many other states – including Florida – employ “equitable distribution,” a measure put into place that takes certain factors into consideration in order to ensure fairness.
“The division of property could be 50-50, 60-40, 70-30 or even all for one spouse and nothing for the other,” states the American Bar Association.
According to Florida Statute 61.075, a judge will consider the following when determining how the property will be divided:
• The contributions made to the marriage, including care for the children
• The contributions made toward acquiring marital and non-marital assets
• The economic circumstances of each party
• The length of the marriage.
Even the most amicable divorces can quickly become heated if both spouses do not feel that their property is being divided fairly. Fortunately, with the help of a Miami divorce lawyer, you can rest assured that your interests are being effectively represented by a professional who will work hard to fight for your rights. Contact experienced Miami divorce lawyer Scott A. Ferris, Esq. today at 305-670-3330 to discuss your case.