Divorce

If you have a prenuptial agreement the distribution of assets will be detailed in this document. Florida is an equitable distribution state. This means that any assets acquired during the marriage is subject to equal distribution between the parties. However if you inherited money from your family and kept the account only in your name, you may be able to protect these funds from your spouse. If you receive gifts only to you or owned by you prior to the marriage, it is possible to avoid equal distribution. 

Keep in mind all assets have a value. The parties need to agree on the value of each asset. If you have pensions or 401k savings there may be ways to protect the value of these assets by giving another asset more than equal value. Valuation of assets could become involved. For example, what date is the asset to be valued. You should retain an attorney to determine the best way to proceed. Liabilities, debts may also be assigned to each party being liable for each debt. Agreements between the parties may not be binding on the creditor.

The court may provide for equitable distribution of the marital assets and liabilities without regard to alimony for either party. After the determination of an equitable distribution of the marital assets and liabilities, the court shall consider whether a judgement for alimony shall be made.

To do equity between the parties, the court may, in lieu of or to supplement, facilitate, or effectuate the equitable division of marital assets and liabilities, order a monetary payment in a lump sum or in installments paid over a fixed period of time.

If installment payments are ordered, the court may require security and a reasonable rate of interest or may otherwise recognize the time value of the money to be paid to the judgment order.

In a proceeding for dissolution of marriage, the court shall set apart to each spouse that spouse’s nonmarital assets and liabilities, and in distributing the marital assets and liabilities between the parties, the court must begin with the premise that the distribution should be equal, unless there is a justification for an unequal distribution based on all relevant factors, including: 

1. The contribution to the marriage by each spouse, including contributions to the care and education of the children and services as homemaker.
2. The economic circumstances of the parties.
3. The duration of the marriage.
4. Any interruption of personal careers or educational opportunities of either party.
5. The contribution of one spouse to the personal career or educational opportunity of the other spouse.
6. The desirability of retaining any asset, including an interest in a business, corporation, or professional practice, intact and free from any claim or interference by the other party.
7. The contribution of each spouse to the acquisition, enhancement, and production of income of improvement of, or the incurring of liabilities to, both the marital assets and the nonmarital assets of the parties.
8. The desirability of retaining the marital home as a residence for any dependent child of the marriage, or any other party, when it would be equitable to do so, it is in the best interest of the child or that party, and it is financially feasible for the parties to maintain the residence until the child is emancipated or until exclusive possession is otherwise terminated by a court of competent jurisdiction. In making this determination, the court shall first determine if it would be in the best interest of the dependent child to remain in the marital home; and, if not, whether other equities would be served by giving any other party exclusive use and possession of the marital home.
9. The intentional dissipation, waste, depletion, or destruction of marital assets after the filing of the petition or within 2 years prior to the filing of the petition.
10. Any other factor necessary to do equity and justice between both parties

If the court awards a cash payments for the purpose of equitable distribution of marital assets, to be paid in full or in installments, the full amount ordered shall vest when the judgment is awarded and the award shall not terminate upon remarriage or death of either party, unless otherwise agreed to by the parties, but shall be treated as a debt owed from the obligor or te obligor’s estate to the obligee or the obligee’s estate, unless otherwise agreed to by the parties.

“Marital assets and liabilities” include:

1. Assets acquired and liabilities incurred during the marriage, individually by either spouse, or jointly by them.
2. The enhancement on value and appreciation of nonmarital assets resulting 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.
3. The paydown of principal of a note and mortgage secured by nonmarital real property and a portion of any passive appreciation in the property, if the note and mortgage secured by the property are paid down from marital funds during the marriage. The portion of passive appreciation in the property characterized as marital subject to equitable distribution is determined by multiplying a coverture fraction by the passive appreciation in the property during the marriage.
4. The passive appreciation is determined by subtracting the value of the property on the date of the marriage or the date of the acquisition of the property, whichever is later, from the value of the property on the valuation date in the dissolution action, less any active appreciation of the property during the marriage as described in sub-subparagraph b., and less any additional encumbrances secured by the property during the marriage in excess of the first note and mortgage on which principal is paid from marital funds.
5. The coverture fraction must consist of a numerator, defined as the total payment of principal from marital funds of all notes and mortgages secured by the property during the marriage, and the denominator, defined as the value of the subject real property on the date of marriage, the date of acquisition of the property, or the date the property was encumbered by the first note and mortgage on which principle was paid from marital funds, whichever is later.
6. The passive appreciation must be multiplied by the coverture fraction to determine the marital portion of the passive appreciation of the property.
7. The total marital portion of the property consists of the marital portion of the passive appreciation, the portage principal paid during the marriage from marital funds, and any active appreciation of the property during the marriage described in sub-subparagraph b., no to exceed the total net equity in the property at the date of valuation.
8. Interspousal gifts during the marriage.
9. All vested and unvested benefits, rights, and funds accrued during the marriage in retirement, pension, profit-sharing, annuity, deferred compensation, and insurance plans and programs.
10. All real property held by the parties as tenants by the entities, whether acquired prior to or during the marriage, shall be presumed to be a marital asset. If, in any case, a party makes a claim to the contrary, the burden of proof shall be on the party asserting the claim that the subject property, or some portion thereof, is nonmarital.
11. All personal property titles jointly by the parties as tenants by the entities, whether acquired prior to or during the marriage, shall be presumed to be a marital asset. In the event a party makes a claim to the contrary, the burden of proof shall be on the party asserting the claim that the subject property, or some portion thereof, is nonmarital

“Nonmarital assets and liabilities” include:

1. 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;
2. Assets acquired separately by either party by non interspousal gift, bequest, devise, or descent, and assets acquired in exchange for such assets;
3. 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;
4. Assets and liabilities excluded from marital assets and liabilities by valid written agreement of the parties, and assets acquired and liabilities incurred in exchange for such assets and liabilities; and
5. Any liability incurred by forgery or unauthorized signature of one spouse signing the name of the other spouse. Any such liability shall be a nonmarital liability only of the party having committed the forgery or having affixed the unauthorized signature.

The cut-off date for determining assets and liabilities to be identified or classified as marital assets and liabilities is the earliest of the day the parties enter into a valid separation agreement, such other date as may expressly established by such agreement, or the date of the filing of a petition for dissolution of marriage. The date for determining the value of assets and the amount of liabilities identified or classified as marital is the date or dates as the judge determines is just and equitable under the circumstances. Different assets may be valued as of different dates, as, in the judge’s discretion, the circumstances require.

It’s complicated. The laws in Florida have tried to provide courts some guidance on this subject.

In a proceeding for dissolution of marriage, the court may grant alimony to either party, which alimony may be bridge-the-gap, rehabilitative, dirational, or permanent in nature or any combination of these forms of alimony. In any award of alimony, the court may order periodic payments or payments in a lump sum or both. The court may consider the adultery of either spouse and the circumstances thereof in determining the amount of alimony, if any, to be awarded. In all dissolution actions, the court shall include findings of fact relative to the facts enumerated supporting an award or denial of alimony.

In determining whether to award alimony or maintenance, the court shall first make a specific factual determination as to whether either party has an actual need for alimony or maintenance and whether either party has the ability to pay alimony or maintenance. If the court finds that a party has a need for alimony or maintenance and that the other party has the ability to pay alimony or maintenance, then in determining the proper type and amount of alimony or maintenance, the court shall consider all relevant factors, including, but no limited to:

1. The standard of living established during the marriage.
2. The duration of the marriage.
3. The age and the physical and emotional condition of each party.
4. The financial resources of each party, including the non marital and the marital assets and liabilities distributed to each.

It’s complicated. The laws in Florida have tried to provide courts some guidance on this subject.

In a proceeding for dissolution of marriage, the court may grant alimony to either party, which alimony may be bridge-the-gap, rehabilitative, dirational, or permanent in nature or any combination of these forms of alimony. In any award of alimony, the court may order periodic payments or payments in a lump sum or both. The court may consider the adultery of either spouse and the circumstances thereof in determining the amount of alimony, if any, to be awarded. In all dissolution actions, the court shall include findings of fact relative to the facts enumerated supporting an award or denial of alimony.

In determining whether to award alimony or maintenance, the court shall first make a specific factual determination as to whether either party has an actual need for alimony or maintenance and whether either party has the ability to pay alimony or maintenance. If the court finds that a party has a need for alimony or maintenance and that the other party has the ability to pay alimony or maintenance, then in determining the proper type and amount of alimony or maintenance, the court shall consider all relevant factors, including, but no limited to:

1. The standard of living established during the marriage.
2. The duration of the marriage.
3. The age and the physical and emotional condition of each party.
4. The financial resources of each party, including the non marital and the marital assets and liabilities distributed to each.
5. The earning capacities, education levels, vocational skills, and employability of the parties and, when applicable, the time necessary for either party to acquire sufficient education or trading to enable such party to find appropriate employment
6. The contribution of each party to the marriage, including, but not limited to, services rendered in homemaking, child care, education, and career building of the other party.
7. The responsibilities each party will have with regard to any minor children they have in common.
8. The tax treatment and consequences to both parties of an alimony award, including, but not the designation of or a portion of the payment as a nontaxable, nondeductible payment.
9. All sources of income available to either party, including income available to either party through investments of any asset held by that party.
10. Any other factor necessary to do equity and justice between the parties.

Yes. For purposes of determining alimony, there is a reputable presumption that a short-term marriage is a marriage having a duration of less than 7 bears, a moderate-term marriage is a marriage having a duration of greater than 7 years but less than 17 years, and a long-term marriage is a marriage having a duration of 17 years or greater. The length of a marriage is the period of time from the date of marriage until the date of filing of an action for dissolution of marriage.

May be awarded to assist a party in establishing the capacity for self-support through either:

1. The redevelopment of previous skills or credentials; or
2. The acquisition of education, training, or work experience necessary to develop appropriate employment skills or credentials.

In order to award rehabilitative alimony may be modified or terminated in accordance with s. 61.14 based upon a substantial change in circumstances, upon noncompliance with the rehabilitative plan, or upon completion of the rehabilitative plan.

May be awarded when permanent periodic alimony is inappropriate. The purpose of durational alimony is to provide a party with economic assistance for a set period of time following a marriage of short or moderate duration or following a marriage of long duration if there is no ongoing need for support on a permanent basis. 

An award of durational alimony terminates upon the death of either party or upon the remarriage of the party receiving alimony. The amount of an award of durational alimony may be modified or terminated based upon a substantial change in circumstances. However, the length of an award of durational alimony may not be modified except under the exceptional circumstances and may not exceed the length of the marriage.

May be awarded to provide for the needs and necessities of life as they were established during the marriage of the parties for a party who lacks the financial ability to meet his or her needs and necessities of life following a dissolution of marriage. Permanent alimony may be awarded following a marriage of a long duration if such an award is appropriate based upon clear and convincing evidence after consideration of the factors or following a marriage of short duration if there are written findings of exceptional circumstances. 

In awarding permanent alimony, the court shall include a finding that no other form of alimony is fair and reasonable under the circumstances of the parties. An award of permanent alimony terminates upon the death of either party or upon the remarriage of the party receiving alimony. An award may be modified or terminated based upon a substantial change in circumstances or upon the existence of a supportive relationship.