Equitable Distribution

What is Equitable Distribution of marital assets?

In a proceeding fro dissolution of marriage, in addition to all other remedies available to a court to do equity between the parties, or in a proceeding for disposition of assets following a dissolution of marriage by a court with lacked jurisdiction over the absent spouse or lacked jurisdiction to dispose of the assets, the court shall set apart to each spouse that spouses nonmaritial assets and liabilities, and in distributing the marital assets and liabilities between the parties, the court must begin with the premise that the distribution should be equal, unless there is a justification for an unequal distribution based on all relevant factors.

What are the relevant factors?

1. The contribution to the marriage by each spouse, including contributions for the care and education of the children and services as homemaker.
2. The economic circumstances of the parties.
3. The duration of the marriage.
4. Any interruption of personal careers or educational opportunity of either party.
5. The contribution of one spouse to the personal career or educational opportunity of the other spouse.
6. The desirability of retain any asset, including an interest in a business, corporation, or professional practice, Intact and free from any claim or interference by the other party.
7. The contribution of each spouse ti the acquisition, enhancement, and production of income or the improvement of, or the incurring of liabilities to, both the martial assets and the nonmaritial assets of the parties.
8. The intentional dissipation, waste, depletion, or destruction of marital assets after the filing of the petition or within 2 years prior to the filing of the petition.
9. Any factors necessary to do equity and justice between the parties.
10. The desirability of retaining the marital home as a residence for any dependent child of the marriage, or any other party, when it would be equitable to do so, it is in the best interest of the child or the party, and it is financially feasible for the parties to maintain the residence until the child is emancipated or until exclusive possession is otherwise terminated by a court of competent jurisdiction. In making this determination, the court shall first determine it it would be in the best interest of the dependent child to remain in the marital home; and if not, whether other equities would be served by giving any other party exclusive use and possession of the marital home.
11. The intentional dissipation, waste, depletion, or destruction of marital assets after the filing of the petition or within 2 years prior to the filing of the petition.
12. Any other factors necessary to do equity and justice between the parties.

What if the court awards cash payment, how is this handled?

What if a stipulation or agreement has not been entered and filed?

For additional information regarding Equitable Distribution please contact our law firm through this site or call our office today at (850) 434-8904 for a free 10 minute telephone consult.