Within a dissolution of marriage case one of the most important issues is the distribution of the property of the Husband and Wife. The State of Florida distributes marital property and liabilities in a fair and equitable manner pursuant to the facts of each individual case. What happens in one particular case may not happen in another.
The first issue which the Judge will determine will be whether the assets and liabilities are marital or nonmarital in nature. If the asset or liability is marital, then the Court will distribute the property or debt in the proceeding. If the asset or liability is nonmarital, then under most circumstances, the party which brought the asset or liability into the marriage will continue to receive the property and or liability.
The issue of marital vs. nonmarital assets or liabilities can become quite complicated. It may require a tracing of the history of the property and how the property was acquired. There are also ways in which property which was brought into the marriage by one party can be transferred into marital property and, therefore, subject to distribution in the dissolution of marriage action. This procedure is used for all types of property including land, stocks, bonds, cash, homes, credit card debts, mortgages, pensions, retirement plans, loans, furniture, as well as others.
The Judge will look to many factors when distributing the property of the parties. Factors which the Court will consider include the contributions to the marriage by each spouse, contributions to the care and education of the children; the economic circumstances of the parties; the duration of the marriage; contributions of one spouse to the personal career or educational opportunity of the other spouse; the desirability of retaining any asset; the desirability of retaining the marital home as a residence for any dependent child of the marriage, and any other factors necessary to do justice between the parties.
Each dissolution of marriage is individual in nature. Property issues can be complicated and in some cases the results of the litigation can be quite surprising. It will be helpful to discuss with an attorney whether the property you and your spouse intend to divide is in fact a part of your marital estate and whether the proposed division is fair.
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