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3 Florida divorce statutes for the division of marital assets

On Behalf of | Nov 18, 2021 | Divorce, Family Law

When Florida couples decide to divorce, each party is most likely concerned with the assets they created during the course of the marriage. The Florida Legislature reports that the statutes for 2021 require that each individual receive an equal share of the total assets, with a few exceptions based on the length of the marriage and the couples’ monetary circumstances.

Divorcing couples living in Florida may want to review a few other statutes before they begin to divide assets.

1. Inclusion of childcare assets

The equal distribution of assets in a Florida divorce may not remain equal in the case of childcare contribution. One parent may receive a larger share of the assets if he or she contributed more time or money to raise a child, including:

  • Educational costs
  • Medical costs
  • Time and effort spent on homemaking/child-rearing

While the distribution amount may vary during the divorce proceedings, either party seeking a larger share due to these expenses and acts may want to provide the court with documents that offer proof of these contributions.

2. Career opportunity support

During a marriage, one individual may put his or her career on hold and provide the other the opportunity to advance in either education or job training. If this occurs and the couple divorces, later on, the person who provided financial support or stalled their own career to care for any children the marriage produced or may receive a larger share of the couple’s combined assets.

3. Business interests

If one party involved in a Florida divorce wants to maintain a controlling interest in a business, he or she may do so at the discretion of the courts. However, no other individual or group may claim partial ownership of a business or practice in this case.

Divorcing Florida couples who want to claim non-marital assets must do so by providing clear evidence to the court of their validity. Bank statements and investment reports may assist in backing such claims.

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