As part of a divorce settlement, divorcing couples have to split their assets. In Florida, the distribution of assets and liabilities is governed by the “equitable distribution” law, which refers to the way a divorcing couple divides their properties and debts.
How will a court distribute the parties’ assets and liabilities between them? Will the court just flip a coin? It may feel like it, but in in Florida the distribution of assets and liabilities is governed by “equitable distribution.”
Alimony is awarded to the needy spouse to assist with maintaining a similar lifestyle as established during the parties’ marriage.