Typically, one of the biggest points of contention in divorce matters is what constitutes marital property and how such property should be divided. While courts have the discretion to divide assets in a fair and equitable manner, they must engage in certain steps prior to doing so; otherwise, their judgments may be subject to reversal. This was demonstrated in a recent Florida ruling, in a divorce case in which the appellate court reversed the trial’s final ruling with regard to equitable distribution due to the court’s failure to make specific findings of fact regarding the assets. If you are in contemplating ending your marriage, it is advisable to consult a skillful Florida divorce attorney to assist you in seeking a fair dissolution.
Facts of the Case
It is reported that the husband and the wife decided to end their marriage, and the wife filed for divorce. The couple had substantial assets, and the proceeding regarding the dissolution of the marriage lasted eight days. At the end of the trial, the court dissolved the marriage and developed an equitable distribution scheme, but failed to identify, value, and distribute the bulk of the parties’ liabilities and assets. The husband appealed.
Requirements in Fashioning an Equitable Distribution
Under Florida law, a court developing an equitable resolution of marital assets must make specific factual findings identifying the parties’ assets and liabilities and their classification and value. A final judgment issued absent such findings must be reversed. Thus, the court reversed the trial court judgment with regard to equitable distribution. Continue reading ›