How Courts Decide Who Gets What in a Divorce

The Items to Be Divided

Prior to any division of property in a divorce case, the court needs to determine exactly what it will be dealing with. This includes determining all financial information like bank accounts, mortgages, car payments, joint or individual credit cards, as well as any joint investments.

This step is important since not all items are considered the same when divided. For example, an asset may be categorized as marital or non-marital, whereas debt is classified as either separate or marital. First, the court determines what needs to be split prior to making any decisions regarding its allocation.

Marital versus Non-Marital Property

One of the main issues that needs to be determined in the course of divorce proceedings is the nature of particular assets; whether they should be considered marital or non-marital. The former term refers to any asset or piece of property accumulated throughout the duration of marriage.

On the other hand, non-marital assets are those that belonged to a person prior to marriage or those that have been inherited from relatives or received as a gift from another party. However, even an item that was originally purchased before the marriage can be considered partially marital.

The Importance of Equity in Distribution

When dividing marital assets and liabilities, divorce laws Florida prioritizes equitable distribution. However, it does not necessarily imply equal. It implies fair, depending on the unique circumstances of each particular case.

Thus, such factors as the duration of the marriage and each spouse's financial condition should be taken into consideration. Moreover, a judge will likely consider the contribution of the parties in terms of the work done in the household.

For instance, in many cases, one party works while the other takes care of children and maintains the house. In addition to that, each party's waste, dissipation, or depletion of joint assets may be considered by a judge too.

Dividing Business or Retirement Accounts

Sometimes, there are complex issues related to a business owned by one or both parties or their retirement accounts. Such assets require a special approach since they need valuation. In some cases, such valuations are performed according to professional standards by independent third parties.

As far as dividing such assets is concerned, a lot of evidence can be submitted in court, such as expert appraisals and testimonies.

Execution of the Order

When all decisions are made, a court divides marital property in writing, as well as the rest of the issues involved in divorce proceedings. An order may be included in a divorce judgment or issued separately as a property settlement order. However, regardless of how a person feels about the decision, it should be executed without fail.