Mediation Resolves The Division Of All Property (Assets & Debts).
Equitable distribution can be put as simply as: anything that is acquired during the marriage, whether it is an asset or liability is considered marital and should be equitably distributed by the Court.
The first step in the equitable distribution process is determining what is marital vs. what is non-marital. If an asset or liability was acquired during the marriage, does it automatically become marital in nature? The answer is, not necessarily. For example, an inheritance received by one party during the marriage does not automatically become marital in nature. If the receiving party, thereafter commingles their inheritance with marital property, that inheritance then can become marital property subject to equitable distribution. Once all the assets and liabilities are labeled as marital or non-marital, it is time for the Court to distribute the assets and liabilities.
Section 61.0075, Florida Statutes, sets forth the legal standards and statutory law regarding equitable distribution.
During mediation, I guide the couple through a discussion and negotiated settlement of all property owned and debts owed by the couple. The power of mediation is that the couple themselves – with my assistance – decide how best to divide-up their property and debts. This is a powerful position for each to be since they don’t have to worry about the court telling them how best to allocate their money.
Here is some general information about equitable distribution (each situation is unique and this information may not be applicable to your particular divorce).