Disputes over money are one of the leading causes of divorce. It is not surprising, then, that in many divorce cases, the parties will engage in contentious disagreements over how assets and property should be divided. In an attempt to mitigate such disputes, the Florida courts engage in a three-step process for determining what constitutes an equitable division of property. If the court disregards the process and divides property without properly identifying assets and liability, it may constitute grounds for a reversal of an equitable distribution award, as demonstrated in a recent Florida ruling. If you wish to end your marriage, it is critical to engage a capable Florida divorce lawyer attorney to assist you in safeguarding your interests.
The History of the Case
The facts of the case are sparse. It is merely reported that the husband and wife were engaged in divorce proceedings, and the trial court issued a final judgment dissolving the marriage. The husband subsequently appealed, arguing that the alimony award and equitable distribution awards dictated by the judgment must be reversed. The appellate court agreed, and vacated the trial court ruling, and remanded for further proceedings.
The Florida Equitable Distribution Process
In Florida, equitable distribution is typically a three-step process. Specifically, it requires the identification of nonmarital and marital assets, a valuation of any assets deemed marital, and distribution of marital assets as dictated by statute. In the subject case, the husband argued that the trial court erred in failing to identify all of the parties’ liabilities and assets and deem them either marital or nonmarital. The appellate court agreed. Continue reading ›