When couples in Florida decide to divorce, one of the first questions that comes up is: what happens to our stuff? The house, the retirement accounts, the car, the debt — how does any of it get divided fairly when two lives have been financially intertwined, sometimes for decades? The answer lies in equitable distribution, and understanding it can help you enter the process with realistic expectations.
What “Equitable” Actually Means
Equitable does not mean equal. Courts look at what is fair given the unique circumstances of each marriage — including the length of the marriage, the economic circumstances of each party, contributions made by each spouse (financial and non-financial), and whether one spouse may have wasted or misused marital assets.
What Counts as a Marital Asset?
A marital asset is generally anything acquired during the marriage, regardless of which spouse earned the money or whose name appears on the account. This includes bank and investment accounts, retirement accounts, military benefits, real estate, vehicles, business interests, and valuable collections. Debts accumulated during the marriage are included as well.
What Is Not a Marital Asset?
Property owned before the marriage, inheritances received individually, and gifts made to one spouse from a third party are generally considered non-marital. However, when non-marital property becomes commingled with marital funds, things get complicated. A prenuptial or postnuptial agreement can protect designated property — but only if properly drafted and executed.
The Financial Disclosure Process
Once a divorce is filed, both parties must produce a full financial disclosure covering every account, asset, and debt. Working with an attorney ensures nothing is missed and that both parties’ financial pictures are complete and accurate.
