Posted by Nydia Streets of Streets Law in Florida Divorce

Is a Florida divorce court required to apportion to one spouse investment losses as a debt in equitable distribution? This was an issue among others in the case Ouslander v. Ouslander, 4D2023-2479 (Fla. 4th DCA November 20, 2024).

The appellate opinion in this case does not give much in the way of background information, but it appears the former husband appealed a final judgment of divorce regarding the timesharing ordered and equitable distribution. Specifically, the former husband challenged the court’s decision to award equal unsupervised time-sharing and shared parental responsibility; the trial court’s failure to assign marital debt to the former wife for her investment activity losses, and the trial court’s decision to order the former husband to make an equalizing payment for equitable distribution, instead of ordering the former wife’s credit card debt to be paid from the proceeds of the sale of the marital home.

The appellate court ruled the parenting plan issues were determinations were based on credibility determinations made by the trial court and were not an abuse of discretion, noting “The appellate court has no authority to reweigh testimony and find it credible.” As to the investment losses, the court found there was no abuse of discretion, noting “See Rosenbloom v. Rosenbloom, 851 So. 2d 190, 191 (Fla. 4th DCA 2003) (‘The former husband, who would have shared in any profits, must share equally in the losses, notwithstanding that the former wife's investment conduct may well have been imprudent.’).” Finally as to the former husband’s argument about the equalizing payment, the appellate court found no abuse of discretion, citing Hua v. Tsung, 222 So. 3d 584, 591 (Fla. 4th DCA 2017) (“Although a trial court in a dissolution judgment certainly can identify marital assets and liabilities, and allocate them to the parties pursuant to section 61.075(3), Florida Statutes (2014), it cannot adjudicate a debt.”).

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