Source: https://www.pensacoladefenselawyer.com/family-law/divorce/property-distribution/
Timestamp: 2018-04-22 06:49:38
Document Index: 72244684

Matched Legal Cases: ['§ 61', '§ 61', '§ 61', '§ 61', '§ 61', 'art 1', 'art 2', '§ 61']

Attorney for Property Distribution in Pensacola, FL
It is not uncommon for one of the most contentious issues in a divorce case to be the allocation of assets and liabilities. While some states use "community property" rules in which spouses are deemed to equally own all income and assets earned or acquired during their marriages, Florida is among the majority of states that use "equitable distribution."
Equitable distribution refers to the fair division of property, but not necessarily equal. While the court is directed to start with the premise that a distribution of marital property will be equal, Florida law does allow for situations in which one spouse may be awarded a greater percentage of one or all assets than the other.
If you are involved in any kind of dispute with your spouse over the marital or nonmarital property as it relates to a pending divorce, it is in your best interest to quickly retain legal counsel.
The Law Office of James M. Burns represents clients in communities all over Escambia County and Santa Rosa County, including Milton, Pace, Perdido Key, Fort Walton Beach, Navarre, and several others.
James M. Burns is a skilled divorce lawyer in Pensacola who can negotiate on your behalf to help you achieve the most favorable resolution to your case.
Call (850) 457-6002 today to have our attorney review your case and answer all of your legal questions during a free, no-obligation consultation.
Overview of Property Distribution in Florida
Which factors does the court consider when distributing marital and nonmarital property?
Where can I learn more about property distribution in Pensacola?
Marital vs. Nonmarital Assets and Liabilities in Escambia County
Florida Statute § 61.075(6)(a) defines marital assets and liabilities as including the following:
Under Florida Statute § 61.075(6)(b), nonmarital assets and liabilities include the following:
Equitable Distribution in Pensacola
Florida Statute § 61.075(1) establishes that the court must set apart to each spouse that spouse’s nonmarital assets and liabilities. Furthermore, in distributing the marital assets and liabilities between the parties, the court must begin with the premise that the distribution should be equal, unless there is a justification for an unequal distribution based on all relevant factors, including:
In making this determination, the court shall first determine if it would be in the best interest of the dependent child to remain in the marital home; and, if not, whether other equities would be served by giving any other party exclusive use and possession of the marital home;
Under Florida Statute § 61.075(3), any distribution of marital assets or marital liabilities must be supported by factual findings in the judgment or order based on competent substantial evidence with reference to factors enumerated in Florida Statute § 61.075(1) in any contested dissolution action wherein a stipulation and agreement has not been entered and filed.
The distribution of all marital assets and marital liabilities, whether equal or unequal, must include specific written findings of fact as to the following:
Identification of the marital liabilities and designation of which spouse shall be responsible for each liability; and
Unlike child custody, alimony decisions that may be modified later, court decisions regarding the division of marital assets and liabilities are final.
Florida Property Distribution Resources
Florida Bar Journal | A Seven-Step Analysis of Equitable Distribution in Florida — View the full text of Part 1 of a May 1999 Florida Bar Journal article discussing equitable distribution in the Sunshine State. The article covers establishing the duration of a “partnership,” classification of assets, and valuing marital property. Part 2 covers structuring the distribution, structuring the distribution award, and considering alimony in relation to distribution.
Florida Statute § 61.075 | Equitable distribution of marital assets and liabilities — View the full text of the state laws governing equitable distribution. You can learn more about what happens when the court awards a cash payment for the purpose of equitable distribution of marital assets, to be paid in full or in installments. You can also find information about the cut-off date for determining assets and liabilities to be identified or classified as marital assets and liabilities is the earliest of the date the parties enter into a valid separation agreement.
Find a Property Distribution Lawyer in Pensacola, FL
Are you hoping to file for divorce in the Florida Panhandle, but have disagreements with your spouse over marital or nonmarital property? You will want to contact The Law Office of James M. Burns for assistance with your dispute. If you are in the military and you have questions about whether your military pension is subject to equitable distribution, contact James M. Burns.
Pensacola divorce attorney James M. Burns helps individuals in Pace, Milton, Navarre, Fort Walton Beach, Perdido Key, and many surrounding areas of Santa Rosa County and Escambia County.
You can have our lawyer provide an honest and thorough evaluation of your case when you call (850) 457-6002 or complete an online contact form to receive a free initial consultation.