Equitable distribution of the parties’ marital assets is the first order of business in divorce cases.
If the court awards a cash payment for the purpose of equitable distribution of marital assets, to be paid in full or in installments, the full amount ordered shall vest when the judgment is awarded and the award shall not terminate upon remarriage or death of either party, unless otherwise agreed to by the parties, but shall be treated as a debt owed from the obligor or the obligor’s estate to the obligee or the obligee’s estate, unless otherwise agreed to by the parties.
As an example, in a divorce settlement, the court orders the husband to pay the wife $100,000 as part of the equitable distribution of their marital assets.
Despite the husband’s remarriage, the obligation to pay the full amount remains, and in the event of his death, the unpaid sum would be considered a debt from his estate to the wife, as agreed upon in their divorce decree.
If you are considering divorce and have questions about equitable distribution, we can help you here at The Law Offices of Gary S. Dolgin.
With over 33 years in practice, Board Certified Expert in Marital and Family Law, Gary Dolgin is an experienced and knowledgeable divorce attorney in Tampa who can represent your best interests.
To schedule a consultation with Gary S. Dolgin, Attorney At Law, call (813) 999-2772 and it will be our pleasure to help you.