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Florida Divorce Online is a service created in Florida that allows you to complete your official Florida Petition for Dissolution of Marriage, commonly known as divorce, online.
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Florida Divorce Issues: Division of Property and Debts
Florida is an equitable distribution state. This means that the assets and liabilities that you and your spouse acquired during your marriage must be divided equitably between the two of you. This determination is based on many factors. The initial presumption is that assets and debts will be divided equally, but the court has great discretion to move away from that presumption. It is not uncommon for assets and liabilities to be divided other than “exactly equally.” The focus of your analysis should be fairness and equity.
Some factors that the court would (and you should) consider when determining how to divide your assets and debts equitably:
- Each spouse’s contribution to the marriage, including contributions to the care and education of the children and services as stay-at-home spouse/parent.
- Each spouse’s economic circumstances after the divorce.
- The duration of the marriage. (The longer a marriage is the more likely the court might expect a distribution of assets that is other than equal if the spouses have different earning abilities.)
- Any interruption of personal careers or educational opportunities of either party.
- The contribution of one spouse to the personal career or educational opportunity of the other spouse, by, for example working and putting the other spouse through college.
- One spouse’s desire to retain a particular asset, including an interest in a business, intact and free from any claim by the other spouse.
- The amount of separate property that one spouse has.
- Any other factors needed to determine equity and fairness between the parties.
While marital property is divided equitably between the spouses, separate property or non-marital property is most often awarded to the spouse whose property it is. Separate property is any property that a spouse had before the marriage, or any property the spouse obtained by way of inheritance or gift (even if the inheritance or gift occurred during the marriage), or any property a spouse has obtained since separation. This same analysis defines separate debt as well.
All property and all debt must be identified and listed in your divorce paperwork, and it must be allocated between spouses. In order to qualify for an uncontested divorce through Florida Divorce Online, you and your spouse must agree on how to divide all of your property (assets) and liabilities (debts).