Division of Assets

Division of Assets in Florida

One of the most significant and heavily contested aspects of many divorce cases involves the division of marital assets and liabilities. Under Florida law, courts divide marital property pursuant to the principle of equitable distribution under Florida Statute §61.075.

While Florida law begins with the presumption that marital assets and debts should be divided equally, equitable distribution does not always mean a strict 50/50 split. Courts may deviate from equal distribution depending on the specific facts and financial circumstances of the parties.

At Coplan-Gardner & Gardner, P.A., we represent clients throughout Northeast Florida in complex asset division matters involving businesses, retirement accounts, real estate, investments, hidden assets, and disputed non-marital property claims.

Marital and Non-Marital Property

A critical issue in any divorce involves determining which assets and liabilities are considered marital and which remain non-marital.

Generally, marital assets include property, income, retirement benefits, and debts acquired during the marriage, regardless of which spouse’s name appears on the account or title.

Non-marital assets are typically not subject to division and may include:

• Property acquired before the marriage
• Certain inheritances
• Certain gifts from third parties
• Income derived from non-marital assets
• Assets excluded by a valid prenuptial or postnuptial agreement

However, these issues are often far more complicated than they initially appear.

Florida courts frequently address disputes involving:

• Commingling of marital and non-marital funds
• Appreciation of non-marital assets during the marriage
• Tracing issues involving bank accounts and investments
• Family businesses
• Retirement and investment accounts
• Real estate acquired before the marriage but paid down with marital funds

Even assets initially considered non-marital may become partially marital under certain circumstances depending on how the assets were managed during the marriage.

Equitable Distribution of Assets and Debts

Florida courts evaluate numerous statutory factors when determining whether an unequal distribution is appropriate, including:

• Each spouse’s contribution to the marriage
• Economic circumstances of the parties
• Duration of the marriage
• Career or educational interruptions
• Contributions to the other spouse’s education or career advancement
• Intentional dissipation or waste of marital assets
• Desirability of retaining certain assets, such as businesses or professional practices

Asset division may involve:

• Marital residences
• Vacation properties
• Retirement accounts and pensions
• Businesses and professional practices
• Investment portfolios
• Vehicles and personal property
• Credit card debt and other liabilities

Some assets cannot easily be physically divided. In those situations, courts may award an asset to one spouse while offsetting the value through other assets or financial compensation.

Because the division of assets can have substantial long-term financial consequences, properly identifying, valuing, and presenting these issues is critically important.

Business Valuation in Florida Divorce Cases

Business ownership often creates some of the most complex issues in equitable distribution proceedings.

Determining the value of a business may involve:

• Financial records and tax returns
• Business liabilities and cash flow
• Goodwill analysis
• Ownership interests
• Future earning potential
• Expert business valuation testimony

Business valuation cases frequently require more than simply reviewing the “book value” of a company. Depending on the nature of the business, courts may consider multiple valuation methods and competing expert opinions.

In many cases, the spouse operating the business will retain ownership following the divorce while the other spouse receives an offsetting equitable distribution award.

When both spouses are involved in business operations, additional disputes may arise concerning future management, control, and valuation of the company.

Complex Asset Division Matters

Asset division cases often involve significant financial documentation, disputed valuations, hidden assets, forensic accounting issues, and complicated tracing analysis.

At Coplan-Gardner & Gardner, P.A., we work closely with clients and, when necessary, financial professionals, forensic accountants, and valuation experts to properly analyze and present complex financial issues to the court.

Our firm focuses on strategic preparation and practical financial analysis designed to protect our clients’ long-term interests throughout the divorce process.

If you are facing a divorce involving significant assets, business interests, retirement accounts, or disputed property issues, experienced legal representation can make a substantial difference in the outcome of your case.

Contact Coplan-Gardner & Gardner, P.A. to discuss your case and learn more about your legal options regarding equitable distribution and asset division under Florida law.