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What exactly is an “equitable” sharing of marital assets?

Where Strategy Meets Skill

In life, “things happen.”

We make that direct observation on our website at the established Tampa family law firm of Rechel & Associates. One of those things is divorce.

Legions of spouses in Florida and nationally do get divorces, of course, which gives the process and status change a certain commonality. At the same time, though, every marital dissolution is decidedly unique. Distinct factors permeate every divorce. We duly stress at our firm that, “No two family law cases are alike.”

Take divorce-linked property division, for example, a matter that understandably becomes a top-tier consideration for many splitting couples. Some divorcing parties are notably wealthy, with considerable diverse and high-asset property to dispose of in a decoupling. Others have more modest holdings, while logically still being just as focused on a fair distribution outcome.

Florida is among the majority of American states that govern asset-division matters via a so-called “equitable distribution” scheme. Essentially, that means that, while an asset split might not necessarily result in a strict 50/50 outcome, it does need to be fair to both divorcing parties.

If that sounds simple, well … it usually isn’t. For starters, a firm determination needs to be made concerning what is nonmarital wealth and marital property, respectively. Although the former is generally exempt in a divorce accounting, it can lose that status through commingling with marital assets. And as for the latter, it needs to be fully identified, accurately valued and then fairly apportioned.

A marital property list in a given divorce can make for an extensive compilation. Many impending exes have multiple savings vehicles, retirement accounts, business interests, realty holdings and additional wealth sources. Moreover, their debt is also a relevant divorce factor.

We welcome contacts to our firm from individuals having divorce-tied questions or concerns on any dissolution matter, including asset division. Our deep family law legal team routinely crafts creative legal strategies that fully promote the interests of our diverse and valued clients.

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