When a couple goes through a divorce, their property and finances are not the only thing that is divided in the legal proceedings. Many times, couples end up having to divide debt. The following rules determine how debt is handled in divorce.
Equitable Distribution
In Florida, property and debts are handled using the concept of equitable distribution. Many states require that property and debt be divided equally under the concept of community property, but Florida requires more of an equitable or “fair” division of assets and debts. This normally results in a relatively equal division, but equitable does not always result in a precise, equal division.