Florida is a No-Fault state and an Equitable Distribution state. What this means generally is that in deciding the terms of a divorce, the Court is not as concerned with why your marriage is ending, but instead focuses on how to divide your debts and assets as close to 50/50 as possible. With some limited exceptions, all debts and assets accrued during your marriage are considered “marital,” regardless of whose name they are in. Marital assets include, for example, the equity in your home, retirement accounts, and bank accounts. Marital debts include your mortgage, credit card debts, and student loans, among other things.
