According to Florida statute 61.075, all assets acquired during a marriage is considered marital property unless a legal agreement was made prior to the marriage. If no agreement was made, state law enforces equitable distribution meaning marital assets will be split fairly between the spouses.
When couples are working through a divorce, decisions regarding how property and belongings will be divided can be a central point of contention. When spouses cannot come to an agreement, the terms of property distribution can be left to a judge. Florida is an equitable distribution state meaning that a judge will look to split marital assets fairly between spouses.
A judge will base the decision contemporaneously with the factors of the divorce and the judge will further consider each spouse's contribution to the marriage. Only marital assets are considered in this process while non-marital assets, property owned before a marriage, will remain the sole property of each spouse (unless they have been commingled).
An asset can be considered separate property if it meets one of several criteria. Separate property can include any item that was owned by a spouse before marriage, an item acquired at any time as a gift, or property that was directly inherited by a spouse. Income or assets that were derived from or exchanged for separate property can also qualify. There are methods by which all or part of a separate asset can become marital property.
If you are currently experiencing or anticipating a divorce, you need a trustworthy attorney by your side. At Djebelli Torres PLLC, we are committed to helping our clients find the best solution for their family and can defend your rights if a divorce goes to court. If you have questions about your divorce, do not hesitate to contact our firm.