Alimony Equitable Distribution

Florida is an Equitable Distribution state, which means that all assets and liabilities earned by either spouse during a marriage is subject to equitable, or roughly equal, distribution.  This means that any asset and any debt, whether owned solely by one spouse, or held jointly by both spouses, are considered marital and will be equitably divided.

The Court typically uses the date of filing of a case to determine the value of each asset and each debt. This means that parties that are separated are still accruing assets or liabilities that may be considered marital. Either party may ask a Court to examine “marital waste” transactions up to 2 years before a case is filed to determine if “marital waste” transactions should be added to the distribution.

There are exceptions to the equitable distribution scheme. For example, inheritances or gifts to one spouse from someone outside the marriage are not generally considered marital, unless those funds are “co-mingled” with marital funds. Also, homes owned by both parties are considered owned in a slightly different manner, so there are special rules regarding the division of a marital home.

The process of understanding the assets and debts that exist to be divided requires discovery of both parties’ finances. Florida has mandatory financial disclosure rules that obligate each party to produce certain financial records to the other party, and sometimes it is necessary to demand more comprehensive financial records to properly evaluate the parties’ financial situation.

It is important to prepare an Equitable Distribution game plan or spreadsheet before going to mediation or to a hearing on the issues.

It is vitally important for a party to have an attorney through the process. Ric has handled simple and complex equitable distribution cases. Ric will advise you of your rights and responsibilities, guide you through the process, prepare you properly for Court events, and advise you of your alternatives and of probable outcomes if you go before a judge.

Call Ric today for a complimentary strategy session to plan out Ric’s recommended approach to your case!

Please see testimonials from clients by using the link above, to review testimonials from clients that experienced equitable distribution issues in their cases.

Alimony

Florida recognizes a spouse’s right to receive alimony, governed by Florida’s alimony statue, Section 61.08. The Court must determine the requesting party’s entitlement to alimony, as well as determine the amount and duration of alimony a party should receive. The Court examines such factors as the length of the marriage, the age/physical/emotional condition of the parties, the employment of the parties, the employability of the parties, the standard of living of the parties, and contributions one spouse has made during the marriage to enhance the other’s career.

The Court can award alimony for various durations. The Court can award alimony permanently, but can also award alimony for shorter durations. Florida statutes state that the presumption of the duration of alimony for a marriage of 17 years or longer is that alimony should be made a permanent award.

The amount of alimony one should receive or one should pay is difficult to predict. Florida has no formula to determine the amount of alimony the Court should award. However, it is reasonable to assume that Judges use formulas of their own to determine the amount to award. I use several different formulas to develop a range of my client’s alimony entitlement or exposure, and I have learned through experience that my projections are very close to outcomes in the courtroom.

A client must understand their right to receive (or obligation to pay) alimony when preparing for mediation or for a hearing.

It is vitally important for a party to have an attorney through the process. Ric has handled simple and complex alimony cases. Ric will advise you of your rights and responsibilities, guide you through the process, prepare you properly for Court events, and advise you of your alternatives and of probable outcomes if you go before a judge.

Call Ric today for a complimentary strategy session to plan out Ric’s recommended approach to your case!

Please see testimonials from clients by using the link above, to review testimonials from clients that experienced alimony issues in their cases.

CALL ME TODAY! (321) 254-0006

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Alimony Equitable Distribution Melbourne FL
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