‘Equitable Distribution of Marital Assets and Liabilities’ bill becomes law
Florida divorce proceedings will be more uniform under a measure, crafted with the help of the Family Law Section, that Gov. Ron DeSantis recently signed.
DeSantis on June 13 signed HB 521, “Equitable Distribution of Marital Assets” by Republican Rep. Traci Koster, a marital and family law attorney from Tampa.
When she introduced it on the House floor, Koster assured her colleagues that the Family Law Section was “integral” to the crafting of the language.
A key component clarifies the distribution of assets, Koster said.
Rep. Traci Koster
“With regard to the distribution of assets, the bill provides a framework for the interim partial distribution during the course of the dissolution of marriage action,” Koster said.
Another provision creates guidelines that courts can use when determining the value of a “closely held business.”
Republican Sen. Erin Grall, a Vero Beach attorney, sponsored the companion, SB 534.
Grall said the measure is designed to make divorce proceedings more uniform.
Sen. Erin Grall
The legislation, “recognizes the complexities surrounding divorce proceedings and addresses some conflicting caselaw,” Grall said.
Both measures sailed through their respective committees without a negative vote.
The bill becomes effective July 1, 2024.
