The Difference Between Community Property and Equitable Division
Deciding who gets what when a couple divorces is an emotionally charged issue. How property is divided among the parties depends on where you live. Some states are considered community property states, which means all property the couple acquired while married is considered equally owned by each spouse. When a couple files for divorce in a community property state, the property is divided in a 50/50 split.
The opposite of community property is called equitable distribution. Florida is an equitable distribution state. This means when parties divorce, the marital property is divided equitably. This does not mean equally, it means the Court will consider what is most fair when making its property division order. Some of the things the Court will consider when deciding a fair distribution of property include:
● Length of the marriage
● Each party’s contribution to the marriage
● The details of any prenuptial agreement
● Existing child support obligations from prior marriages of any of the parties
● Custodial arrangements of any children born of the marriage
● Financial needs of the parties and children
If the couple is unable to reach an agreement about who gets what, the Court will decide the issue for the parties. Anytime you are faced with having a Judge decide an issue that impacts your life, it is important to present your case in a light most favorable to you. Our attorneys specialize in family law cases and are experienced at analysis of your needs and how to aggressively pursue your rights. We work with you to develop a case that meets your needs and then present it persuasively to the Judge.
For questions about property division, call an experienced family law attorney for help. We examine your needs and create a plan that meets those needs. Call today to schedule an appointment.