Understanding Equitable Distribution of Marital Assets and Liabilities in Florida Family Law

Attorney/Mediator Beth Reineke

Introduction

In the realm of Florida Family Law, the concept of equitable distribution plays a pivotal role when couples decide to dissolve their marriages. Equitable distribution is the legal principle that governs the division of marital assets and liabilities during a divorce. Attorney/Mediator, Beth Reineke, is a Supreme Court Certified Family Law Mediator with over 30 years of experience both litigating and mediating family law cases. As your mediator, she will guide you through the essential aspects of equitable distribution, shedding light on this intricate process.

Equitable Distribution Defined

Equitable distribution does not necessarily mean an equal 50-50 split of marital property and debts. Instead, it focuses on achieving a fair and just division based on a range of factors. Florida Statute § 61.075 outlines the principles that guide the courts in making equitable distribution decisions. These factors include, but are not limited to:

1. Contributions to the Marriage: The court considers each spouse's contributions, both financial and non-financial, to the marriage. This includes contributions such as homemaking, child-rearing, and supporting the other spouse's career.
2. Economic Circumstances: The current financial situation and future financial prospects of each spouse are taken into account. This involves assessing their earning capacities, employability, and other relevant economic factors.
3. Duration of the Marriage: The length of the marriage plays a role in determining the division. Longer marriages tend to involve more complex financial entanglements, impacting the distribution approach.
4. Interruption of Career or Education: If one spouse's education or career was interrupted for the benefit of the marriage or family, this could influence the distribution.
5. Contribution to Asset Acquisition: The contributions of each spouse to acquiring, enhancing, or appreciating marital assets are considered. This could involve efforts in acquiring properties, investments, or other valuable assets.
6. Marital Waste or Dissipation: If either spouse has recklessly spent marital assets without the other's knowledge or consent, it could affect the distribution outcome.
7. Non-Marital Assets and Liabilities: Property or debts acquired before the marriage, by gift, or inheritance, are generally considered non-marital and may not be subject to equitable distribution.

The Process of Equitable Distribution

As an alternative to traditional litigation, mediation can prove immensely beneficial when navigating the complexities of equitable distribution. Attorney/Mediator Beth Reineke offers both virtual and in-person mediations to couples in the Tampa Bay Area, including Hillsborough, Pinellas, and Pasco Counties.

Mediation as an Alternative

Mediation provides couples with an opportunity to actively participate in crafting their own settlement agreement rather than leaving these important decisions solely in the hands of a judge. In mediation, Beth Reineke serves as a neutral mediator, facilitating productive discussions between the spouses. This process allows for open communication and a chance to explore creative solutions that may not be possible in a courtroom setting.

During mediation, couples have the freedom to address unique circumstances and priorities. While the court's guidelines are essential, mediation allows for personalized agreements that reflect the specific needs and desires of the couple. This approach is particularly effective in situations where preserving an amicable relationship is important, especially when co-parenting is involved.