What Is Florida’s New Divorce Stabilization Bill?

The Florida legislature recently passed a measure to make Florida divorce laws “more uniform.” The new “Divorce Stabilization Bill” recently cleared both the House and the Senate with unanimous votes in favor of passing the measure. The bill could have numerous effects on the way couples end their marriages. As the name suggests, the bill provides more uniformity to reduce confusion as couples engage in divorce proceedings. But how exactly does the bill work, and what do you need to know about it? In this article, the Orlando divorce lawyers at Greater Orlando Family Law will answer that question.

How will the bill make divorce proceedings more uniform?

The Republican Senator who drafted the bill says that the goal of the bill was to make divorce proceedings “more uniform” across Florida. There is growing concern that the laws regarding property division are especially confusing or inconsistent. In terms of property division, the bill would address three key factors. Those include:

• Gifts of real property – Divorces can involve gifts of real estate. For example, one spouse might give the family home to the other to simplify the property distribution process. The Bill would require that these gifts all be made in writing. The gifts must also comply with Section 689.01, Florida’s rules regarding fraud.

• Valuing a closely held business – In Florida, a “closely held business” is a corporation with no “trading market” for its shares. Such businesses generally only have a few stakeholders. In terms of a divorce, this is a common example of a “complex asset.” The Bill would standardize the handling of closely held businesses in Florida.

• Interim partial distribution – Interim partial distribution is a form of asset division that occurs early in the divorce process. Its purpose is to provide financial stability to the spouses under “extraordinary circumstances.” The new measure would define these extraordinary circumstances and provide additional guidelines for the courts when executing an interim partial distribution.

Will this bill become law? 

Having passed both the House and the Senate with unanimous votes, the new bill is very likely to become the law in Florida. While it doesn’t radically change how Florida family law works, it does provide a streamlined approach to handling complex decisions that need to be made at the circuit court level. The Bill is not especially controversial. Almost everyone who has read the bill likes it a lot. The Florida Bar was integral in drafting the measure. So chances are very good that it will be signed into law and become effective sometime next year.

Talk to an Orlando Family Law Attorney Today 

Greater Orlando Family Law represents the interests of those seeking family law services in Florida. Our Orlando family lawyers have years of experience helping newlyweds draft prenuptial agreements and others disentangle their marital estates through divorce. Call our office today to schedule an appointment, and we can begin discussing your next steps right away.