Distribution of Wealth During A Divorce
One of the main concerns individuals face when going through a divorce is ensuring that they are being treated fairly during the allocation of financial resources. People are well aware of the common narrative of a couple going through a divorce and one person taking “all” their ex-spouse’s money. While this may be a stretch of the truth, this is a rational fear that many people have during a divorce. To ensure your best interests are being defended it is always wise to seek the counsel of a knowledgeable family law attorney.
The state of Florida follows a term known as equitable distribution during divorce proceedings. Equitable distribution is used to describe how assets, properties, possessions, and liabilities are evenly divided during divorce proceedings. In theory, equitable distribution sounds like a reasonable way to divide assets, however, this process comes with its fair share of problems. This process typically focuses on dividing assets accrued while the couple was together, however, the process of dividing pre-marital assets can become more complex.
In an ideal divorce, both parties actively work together to divide their assets fairly and decide who gets what. However, this is often not the case and in the event there is a dispute over a certain asset or liability, a divorce judge will ultimately hear the matter and decide who gets what.
What If Adultery Occurred?
Florida is known as a “no-fault” divorce state. This means that a couple can get a divorce without needing to prove why or whose fault the divorce was. Typically, if an individual wants a divorce they just need to make the claim that the marriage is irretrievably broken and the divorce proceedings will commence. Thus, these rules many lead people to believe that wealth will always be equally divided during a divorce, however, this is not always the case.
In the event that it can be proven that a spouse had an extramarital affair, this can have an impact on the distribution of wealth. If the unfaithful spouse used the family’s money to buy things for their lover then this information can be taken into account when assets are being divided. The reason for this is that the court uses the mishandling of family funds for an affair as a reason to give the cheating spouse a less than equitable distribution of assets or a larger proportion of the couple’s debt. Adultery can also affect whether an individual can receive alimony and how much it may be.
In most cases, the equitable distribution of wealth goes through smoothly, however in the event of infidelity, and the findings that the family’s funds were used for the affair, the issue can become a larger hurdle in the divorce proceedings.
Contact Us for Help with Your Case
If you are considering a divorce or are currently going through a divorce and you are concerned about equitable distribution of your assets, contact Fort Lauderdale Sandra Bonfiglio, P.A. The right attorney can make a world of difference as you progress through divorce proceedings. The unfortunate reality is that a judge may ultimately get to decide what is yours and what is not. Your divorce attorney will advocate on your behalf and ensure that your interests are being recognized and you are being treated fairly.