Division of Property And Assets in Wellington, Florida

In making a division of property and assets, the Court must make specific findings identifying, valuing and distributing the assets and liabilities of the parties. In Patino v. Patino the Fourth District Court of Appeal recently stated: “We again remind trial judges of the importance of making explicit findings as to all statutorily mandated factors for the determination of alimony in final judgments, as well as establishing a value (even if zero or de minimus) for all marital assets and liabilities when devising an equitable distribution scheme. 

Because the trial court failed to do so in this case, we reverse and remand for further proceedings…Section 61.075, Florida Statutes (2011), provides that in any contested action, specific written findings must be made identifying, valuing, and distributing the marital and non-marital assets and liabilities. ‘These factual findings required by section 61.075(3) are necessary, in order to facilitate effective appellate review of the trial court’s property distribution scheme.” Fulmer v. Fulmer, 961 So.2d 1081,1082 (Fla. 1st DCA 2007). In Whelan v. Whelan, 736 So. 2d 732 ,733 (Fla. 4th DCA 1999), a final judgment awarded the husband’s interest in marital property to the wife but failed to value some of the assets. This court explained: ‘Even when no trial transcript is provided to the reviewing court, failure to make sufficient findings regarding value of property and identification of marital assets and debts constitutes reversible error and requires remand for appropriate findings to be made.’ Id. (alteration, internal quotation marks, and citation omitted). Here, the final judgment distributes marital property without stating the value of each asset and distributes marital debts without stating the amount of each liability. Because the final judgment as to equitable distribution is not supported by the required factual findings, it is insufficient, and we reverse so that the trial court may enter an order including these values.”

To speak with a divorce attorney in Wellington, Florida, contact Matthew Lane & Associates, P.A. at (561) 651-7273.