Florida is an Equitable Distribution State. What Does That Mean?
One of the most difficult issues to mediate or for a judge to rule on is the division of assets and liabilities. In other words, how will marital monies, properties, businesses, and debts be divided between the two spouses? In some states, Oregon, Nevada, Texas, Arizona, New Mexico, California, Wisconsin, Wyoming, and Louisianna, all assets and liabilities coming under the heading of “marital” that are obtained since the marriage will be divided evenly or, as often termed, equally. These states are sometimes referred to as common property states. All the rest of the states (except Alaska, where a couple can...