Undergoing a divorce is not only emotionally challenging, but it is also legally trying as well. As much as everyone would like to hope that they will walk away with all their desired assets and that they will split their liabilities in the way they want, the truth is, getting what a person wants is generally very complicated during a divorce.
If both former spouses can easily agree on how to distribute their assets and liabilities then there often is no need to take matters to court and they can undergo a collaborative divorce. However, in most cases, former couples are unable to make a peaceful decision which they both agree on and that is why they end up escalating matters in court. In Florida, the courts follow an equitable distribution principal when it comes to allocating assets and liabilities during a divorce.
What is an equitable distribution system?
Anyone getting divorced in Florida will have their assets divided according to the equitable distribution system. This system ensures that each spouse is given the assets which they so deserve depending on their circumstances. It is important to note that under this system, in most cases, each spouse will not be given an equal share of their assets and liabilities.
Some factors which determine who gets what under this system are:
- How much each spouse contributed to the marriage
- The employment status of each spouse
- The income of each spouse
- The contribution to education and care of children by each spouse
- The contribution of homemaker services of each spouse
- The desire to have children living in the marital home
Assets which are commonly divided include the house, cars, savings, and other wealth accumulated during the marriage. Just as assets have to be divided, liabilities have to be divided as well. Liabilities can include loans, credit card debts, and other similar financial obligations. if a person chooses to go through a collaborative divorce then they may want to use the above points to help them decide who gets what as well.
Will I be granted alimony?
If it is found that one of the spouses has the financial ability to provide alimony and the other spouse really needs it then they will, indeed, be required to give alimony along with relevant assets so the lesser stable spouse can get on their feet somehow. The factors which determine how much alimony a spouse gets centers around the living standard that had been established during the marriage. It also depends on the earning capability and educational levels of the spouses and also on their physical and emotional state at the time of the divorce.
Going through a divorce can be very emotionally trying. The last thing anyone wants to worry about is having to deal with the legalities of the separation and fighting over who gets what, especially when certain assets clearly belong to one spouse. Anyone who wants to escalate matters in court and have a litigation divorce should get in touch with a divorce attorney in Orlando, Florida. A divorce attorney can handle all of the paperwork and fight for the assets which rightfully belong to a person.