As most people are likely aware, the property division process is often the most contentious aspect of reaching a divorce settlement for couples in Boca Raton, and throughout the country. This can be especially true for high profile couples, and other couples of substantial wealth. Divorcing spouses may disagree over what they are each entitled to because of greed, differences of opinion over what each spouse brought to the marriage, asset complexities or any other number of factors.
In cases when divorcing spouses are unable to reach an agreement on their own, Florida law stipulates that the court handles the distribution of assets in accordance with the rule of equitable distribution. Unlike other states that divide assets down the middle, with each spouse receiving an equal share, Florida divides marital property based on what is equitable or fair. To determine this, courts may take into consideration a number of factors, including the length of the marriage, the earning potential of both spouses and any debts owed by each of the spouses. Through equitable distribution, Florida courts are able to take this into consideration, however, and are thus able to divvy up a couple’s assets based on what makes the most sense, and is most fair, for both of the spouses.