Monthly Archives: November 2016

Who gets to keep what in a Florida Divorce?

Generally speaking, assets and liabilities acquired or incurred during the marriage, by either or both spouses, are presumed to be marital and belong to both parties.   If either spouse believes something that was acquired or incurred during the marriage is “nonmarital”, then that person has the burden to convince the court that it is nonmarital.  Property purchased during the marriage and prior to filing for a divorce is going to be presumed marital even it if is only titled in one spouse’s name.

Non-marital property can become marital property after the marriage, upon the happening of certain events.  For example, if the title of the property is changed to include both spouse’s names (putting your spouse’s name on the deed or adding his or her name to an account) .  A less obvious example would be the property gaining value during the marriage; the enhanced value could be marital property, belonging to both spouses.

All benefits acquired during the marriage in retirement, pension, profitsharing, annuity, deferred compensation, and insurance plans and programs are marital assets (IRAs, 401Ks, etc.).

A few examples of non-marital assets and liabilities would be assets and liabilities acquired before the marriage, inheritance, and income from non-marital assets.

 

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