Economic factors touch almost every facet of a Florida divorce. From the distribution of a family estate, which can include the division of retirement savings, pensions, personal savings and which extend further to equities in family homes, beach houses, car collections and equitable shares or valuations of privately held businesses. Further, economic factors are present in income calculations and earning potential when calculating support obligations, including child support and alimony.
Equitable Distribution in Florida Divorce
Florida statutes and Florida case law establish legal terms and elements which control how these economic factors are applied in the context of a Florida divorce. These “legal terms of art” include the term “equitable distribution” or the proposition that during a divorce all assets and liabilities (i.e. debts) should be divided between the spouses in a fair and equitable manner.
In order to establish the most “equitable” or “fair” distribution, the economics of the divorce must be analyzed in order to first assess what assets and / or debts are part of the equitable distribution schedule. A second analysis must be completed to analyze what values should be placed on each asset and liability.
Valuation in Divorce
Valuations of an equitable estate can be challenging at times as different economic factors and legal standards play a crucial role in establishing the correct values of each different assets and liability. Appreciation factors, martial contributions, and passive or active gains are just some of the economic analysis which must be completed in order to assess the distribution of the marital estate.
These factors are further impacted by economic markets which can play a significant role in valuing the assets and in particular the timing or dates of valuations. Certain markets such as residential and commercial property markets, as well as the stock market as a whole impacts asset valuations, and the country’s overall economy health plays a significant role in Florida divorce actions.
This economic analysis must be done to ensure that the correct equitable distribution can be established and that the parties are truly receiving a full and fair distribution of the marital estate.
Robert Sparks Attorneys: Guiding You Through Your Legal JourneyThe impact of the economy plays a serious role in Florida divorce, and ensuring equitable distribution, fair valuations, and protection of your fair share demands the attention of serious and experienced legal representation.
At Robert Sparks Attorneys, our divorce and family law team draws from decades of collective experience to guide clients through every aspect of their legal journeys – including matters involving property division, asset and debt distribution for high net worth spouses, child support, alimony, and more. Learn more about our services or discuss your potential case when you contact us for a free consultation.