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Dividing your assets in divorce: Are equal shares actually fair?

On Behalf of | Apr 7, 2021 | Uncategorized |

If a divorce is in your future, one of the things you might be concerned about is how to divide your assets. Living in Florida, you should know that your assets are divided equitably, not equally. 

That being said, the court starts with the assumption that both parties will divide their assets equally since both are equal members of the relationship. From there, the division of assets is altered based on other factors, such as:

  • The economic circumstances of the parties
  • The length of the marriage
  • The contributions made to the marriage by the spouses, including caring for children, taking care of the home and financial contributions
  • Each person’s interests in retaining specific assets such as businesses, professional practices or other assets

There are other factors to consider as well, like the age and health of each party.

Should you divide your marital assets equally or equitably?

For most couples, it makes sense to divide marital assets equitably rather than equally. For example, if you have no children and have a large variance between your income and your spouse’s income, it would be reasonable to suggest that the person earning more contributed more towards the marital assets.

In that case, it might be appropriate to give a larger number of assets to the person who furnished the home or supported the mortgage. On the other hand, when a spouse earns less, they may want to seek out a larger portion of assets to help them balance their finances following the divorce since it would be harder to start over.

Our website has more information on dividing assets and what you can do to protect your interests during a divorce. Working with an attorney can help you formulate a persuasive argument that can support your position.