Relocation during divorce raises new questions about property division. If you filed in Florida, state law still applies. However, the move may result in legal and logistical issues you must watch for. Proactive planning is the only way to ensure relocation does not result in you losing your rights to property.
Florida’s equitable distribution
Florida follows the equitable distribution standard, which means the court will divide marital assets and debts as fairly as possible. But soon-to-be former spouses need to remember that fair does not always mean equal. The court considers several factors, such as marriage length, each spouse’s financial and nonfinancial contributions and future needs when dividing assets.
How relocation influences property distribution and management
Moving changes who manages property and who pays for it. Below are three common ways distance can affect how courts treat assets:
- Mortgage and upkeep: The nonmoving spouse usually keeps paying the mortgage and handling repairs to protect the home’s value.
- Rental properties: Courts often award local rental properties to the spouse who can manage them physically and compensate the other spouse with cash or other assets.
- Business operations: Courts favor the spouse who runs the business day to day and offset the other spouse with different property.
Property distribution is a complex process which may require the help of a family law attorney. Your role is to create an inventory of valuables with photos, gather at least three years of tax returns and bank statements and close or freeze joint accounts to prevent a spouse from spending assets.
Do not move without securing your assets first
Before you relocate, protect your assets so distance does not turn your fresh start into unfinished business. Decide the big issues today because clear agreements reduce uncertainty, prevent conflicts and let you start a new chapter with confidence.