Equitable distribution and property issues

• Author: Annette J. Szorosy/Stephanie Matalon
• Profession: General Magistrate/General Magistrate
• Pages: 997-1078

EQUITABLE DISTRIBUTION,

PROPERTY ISSUES

15-1

CHAPTER 15

Equitable Distribution

and Property Issues

QUICK VIEW

An equitable distribution of marital assets and liabilities must begin with the presumption that it should be equal,

unless there is justif‌ication for an unequal distribution. Florida recognizes a marital partnership concept. Both

parties’ contributions to and participation in the marriage are considered, inside or outside of the home, and

a judge must ensure that neither spouse passes automatically from misfortune to prosperity, or from prosperity

to misfortune; in viewing the totality of the circumstances, one spouse should not be short-changed. Statutory

factors guide the court’s determination.

This chapter covers the substantive and procedural law dealing with equitable distribution and property

issues. It also addresses the practical aspects of representing the client. Therapeutic justice is relevant to these

issues, and how a family lawyer proceeds has long-lasting effects on the family. Processes and procedures

should incorporate alternative dispute resolution and deal with the emotional dissolution of marriage, so that

the parties can concentrate on the f‌inancial issues and completion of the tasks required to accomplish an

equitable distribution.

TABLE OF CONTENTS

I. BASIC POINTS

§15:01 In General

§15:02 Effect of Separation or Remarriage

§15:03 Choice of Valuation Method

§15:04 Spouse in Jail

§15:05 Competent, Substantial Evidence

§15:06 Expert’s Testimony as to Value

§15:07 Financial Aff‌idavit Value

§15:08 Loans From Relatives and Friends

§15:09 Lack of Evidence

§15:10 Presentation of Charts

§15:11 De Minimis Assets and Expenses

§15:12 Impact of Electronic Filing and Supreme Court Rule Changes on Equitable Distribution

II. NONMARITAL ASSETS AND LIABILITIES

§15:20 In General

§15:21 Identif‌ication

EQUITABLE DISTRIBUTION,

PROPERTY ISSUES

Florida Family Law and Practice 15-2

§15:22 Set-Aside Before Distribution

§15:23 Commingling of Non-marital and Marital Assets

§15:24 Presumption of Gift by Commingling Non-marital and Marital Assets

§15:25 Evidence Against Presumption of Gift

§15:26 Assets and Liabilities Acquired After Separation

III. IDENTIFICATION, VALUATION, AND DISTRIBUTION OF MARITAL PROPERTY

A. Identif‌ication and Valuation

§15:40 Property Acquired During Marriage

§15:41 Value Enhancements of Non-marital Assets

§15:42 Interspousal Gifts

§15:43 Real Property

§15:44 Identif‌ication of Marital Assets

§15:45 Cut-Off Date for Identif‌ication

§15:46 Date for Determining Value

B. Distribution

1. In General—Equal Distribution

§15:60 Equal Distribution Presumption

§15:61 Unequal Distribution May Be Allowed

2. Facts Justifying Unequal Distribution

§15:70 Contributions to Marriage

§15:71 Economic Circumstances of Parties

§15:72 Duration of Marriage

§15:73 Interruption of Personal Careers

§15:74 Contribution to Other Spouse’s Career

§15:75 Desirability of Retaining Particular Asset

§15:76 Contributions to Income and Assets

§15:77 Retention of Marital Home for Children

§15:78 Intentional Waste of Assets

§15:79 Unusual Circumstances

3. Particular Distribution Issues

§15:90 Distribution of Depleted Assets

§15:91 “Special Equity” Is Abolished

§15:92 Commingling

§15:93 Alimony Need Not Be Considered

§15:94 Interim Partial Equitable Distribution

IV. PARTICULAR ASSETS AND LIABILITIES

A. Employment Benef‌its

§15:100 Retirement Benef‌its Generally

§15:101 Health Insurance Retirement Benef‌it

§15:102 Municipal Pension Issues

§15:103 Valuation Issues

§15:104 Distribution Issues

§15:105 Present Value Distribution

§15:106 Deferred Distribution

§15:107 Military Benef‌its

§15:108 Severance and Vacation Pay

§15:109 Bonus

§15:110 DROP (Deferred Retirement Option Program Account)

B. Business or Professional Practice

§15:120 Businesses and Close Corporations Generally

§15:121 Business Interest Must Be Valued

§15:122 Marital Property

EQUITABLE DISTRIBUTION,

PROPERTY ISSUES

15-3 Equitable Distribution and Property Issues

§15:123 Non-marital Property

§15:124 Joinder of Corporation as Party

§15:125 Licenses and Degrees

§15:126 Law Practice

§15:127 Medical or Dental Practice

§15:128 Goodwill

§15:129 Future Earnings and Future Earning Capacity

§15:130 Partnerships

§15:131 Error to Leave Parties as Joint Owners of Business

§15:132 Patents

C. Marital Home

§15:140 Credits and Setoffs Generally

§15:141 Payments Made After Separation

§15:142 Sale of Marital Home

§15:143 Exclusive Use and Occupancy of Marital Home

§15:144 Rental Value

D. Other Assets and Liabilities

§15:150 Trusts

§15:151 Personal Injury and Workers’ Compensation Awards

§15:152 Disability Benef‌its

§15:153 Stock and Stock Options

§15:154 Compensatory Leave Time and Sick Leave

§15:155 Frequent Flyer Miles

§15:156 Engagement Ring

§15:157 Family Pet

§15:158 Joint Tax Refund

§15:159 Capital Loss Carry Forwards (CLCFs)

§15:160 Education Loans

§15:161 Royalties

V. JUDGMENT AND AWARD

§15:170 In General

§15:171 Property Held in Tenancy by Entirety

§15:172 Failure to Address Asset or Liability

§15:173 Correction of Mathematical Error

§15:174 Delay in Entry of Final Judgment

§15:175 Consideration of Tax Consequences

§15:176 Consideration of Costs of Sale

§15:177 Consideration of Interest on Award

§15:178 Findings

§15:179 Lump Sum or Installments

§15:180 Vesting of Cash Award

§15:181 Judgment as Instrument of Conveyance

§15:182 Restrictions on Use of Distributed Assets

§15:183 Reservation of Jurisdiction

VI. PROCEDURES AND PRACTICE

§15:190 In General

§15:191 Jurisdiction

§15:192 Pleading

§15:193 Burden of Proof

§15:194 Effect of Prenuptial Agreement

§15:195 Effect of Marital Settlement Agreement

§15:196 Separation Agreement Before Dissolution of Marriage