Division of Property and Assets in a Divorce in North Palm Beach

The division of property and assets in a Florida divorce proceeding is governed by Florida Statute § 61.075. Florida Statute § 61.075 states that: “In a proceeding for dissolution of marriage, in addition to all other remedies available to a court to do equity between the parties, or in a proceeding for disposition of assets following a dissolution of marriage by a court which lacked jurisdiction over the absent spouse or lacked jurisdiction to dispose of the assets, the court shall set apart to each spouse that spouse’s nonmarital assets and liabilities, and in distributing the marital assets and liabilities between the parties, the court must begin with the premise that the distribution should be equal, unless there is a justification for an unequal distribution based on all relevant factors…” In Byers v. Byers, the Florida Court of Appeal recently stated that bonus checks earned during the course of the marriage are to be valued and are to be included in the marital estate for purposes of making an equitable distribution. This case involved two bonus checks that were earned by the Husband while he worked at Regions Bank during the course of the marriage. 

Accordingly, in making a division of property and assets, the Florida Court of Appeal found that the trial court had sufficient evidence from which to conclude that the check amounts should be included in the marital estate.

To speak with a North Palm Beach divorce attorney, contact Matthew Lane & Associates, P.A. at (561) 651-7273. 

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