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What You Need to Know About Eq...

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What You Need to Know About Equitable Distribution in a Dissolution of Marriage in Orlando, Florida

The Florida Statute 61.075 is the equitable distribution statute in Florida.

The statute states that the date of valuation for assets and liabilities is the date the petition for dissolution is filed.

The court will value the assets and debts as of the date of filing the petition for dissolution, if you go to trial. If you go to mediation, or you enter into a marital settlement agreement, you can agree to value the assets at the date of filing, or the date of the mediation. However, both parties in the case must agree to any valuation date that is not the date of filing. If you cannot agree, the date of filing is the controlling date per valuation per F. S. 61.075 Equitable Distribution.

For determining whether an asset or debt is marital or nonmarital, the court will use the date of filing the petition for dissolution of marriage. An asset or debt is nonmarital, if you had the asset prior to the marriage and kept it segregated; obtained it during the marriage by gift or inheritance and kept it segregated; or earned it after the date of filing. The portion of the asset earned after the date of filing is nonmarital. If you received a bonus after the date of filing, but earned a portion of the bonus prior to the date of filing, the portion earned prior to the date of filing is marital. The portion earned after the date of filing is nonmarital.

The court is to start at equitably dividing the assets and debts. That is a 50 percent to Wife and 50 percent to Husband. You should see a CPA and financial planner to see what 50 percent of the assets and debts is best for you to receive; and the tax ramifications of what you receive.

There may be cases where you ask for an unequal distribution such as case where you request unequal distribution to help cover the alimony that you are requesting. Unequal distribution must be pled in the petition for dissolution, if you want to receive it.

For more information on Equitable Distribution in a Dissolution of Marriage, you can read Florida Statute 61.075 which is the Equitable Distribution Statute in Florida.

This article is for information only; and does not form an attorney client privilege. If you have more questions regarding Equitable Distribution in a Dissolution of Marriage case, you may call Ann Marie Gilden, Esquire of Ann Marie Giordano Gilden, P. A. at (407) 732-7620 to set an initial consultation.

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