People who are thinking about divorce in Florida often have a lot of questions. They naturally worry that the end of their marriage could have major implications for their finances. After all, they have likely shared all of their income and resources with their spouse since their wedding.
Those preparing for divorce frequently find themselves disagreeing with their spouses about what might be a reasonable and appropriate way to divide their property. They may then have to consider what could happen if they take the matter to family court.
How do the Florida family courts divide property when people divorce?
When agreements between the spouses are a concern
Quite a few Florida divorces involve either a prenuptial agreement or a property division settlement. Spouses can go to mediation or collaborate with each other to settle their own property division disputes in the early stages of a Florida divorce. Others may refer to specific terms already enshrined in prenuptial or postnuptial agreements. The courts can enforce agreements set by the spouses in an uncontested divorce.
The equitable distribution statute
Many people cannot reach an agreement with their spouses despite their best intentions to do so. Those who cannot settle property division matters can litigate in court. Florida has an equitable distribution law for divorcing couples. A Florida family law judge can review the spouses’ circumstances and decide how to fairly divide the assets from the marriage between the spouses. Debts accumulated during the marriage can also play an important role in equitable division undertakings.
Making sense of the rules that govern Florida divorces may help people feel empowered when negotiating with a spouse or preparing for family court.