What Is Considered Marital vs. Non-Marital Property in Florida?

If you’re facing a divorce, your financial rights are of critical importance, and a key component of this is the equitable division of your marital property. Florida begins with the presumption that all assets are marital, which means the burden of proving that a specific property is non-marital lies with the spouse who claims its separate nature. Discuss your questions and concerns with our experienced Brandon, FL, property distribution attorneys at Carman & Finegan today.

Equitable Distribution in Brandon

Brandon divorce cases are heard by the Thirteenth Judicial Circuit Court of Hillsborough County at the George Edgecomb Courthouse in Tampa. Property distribution in a Florida divorce must be equitable, which means fair in relation to factors like the following:

• The duration of the marriage
• Each spouse’s economic circumstances
• Each spouse’s contributions to the marriage, including in relation to homemaking and childcare
• Either spouse’s contributions to the other’s career development
• Any intentional dissipation of marital assets in anticipation of divorce

Each case must be considered in relation to the unique circumstances that apply, and while an equal division of marital property is a possibility, it’s not guaranteed. When the court does split marital assets unevenly between the spouses, it must justify doing so with relevant facts.

The Dividing Line between Marital and Non-Marital Assets

Generally, anything that you owned prior to marriage and kept separate during your marriage is considered your separate property, which makes it non-marital. Additionally, any assets that you, your spouse, or you and your spouse acquired during your marriage are classified as marital property, with very few exceptions. There are, however, specific factors to keep in mind.

The Statutory Cut-Off Date

While some states consider every asset that is acquired up to the point of divorce finalization marital, Florida is not among them. Instead, there is a statutory cut-off date – after which acquired assets are considered non-marital. Whichever of the following occurs first determines the cut-off date:

• The date that you and your spouse signed a valid separation agreement
• The date identified as the cut-off date in a valid separation agreement
• The date that the petition for dissolution of marriage was filed with the court

If you and your spouse physically separate, however, it will have no bearing on this marital window.

Exceptions to the Rule

One of the only exceptions when it comes to assets acquired during the marital window being classified as marital relates to any gifts or inheritances that were received by one spouse alone. The financial commingling of marital and non-marital assets during a marriage can also blur the line that divides them. Under the right circumstances, the amount that an asset increases in value during a marriage can also be considered a marital asset.

Our Experienced Brandon Property Division Lawyers Are Standing By to Help

Our seasoned Brandon property division attorneys at Carman & Finegan are committed to skillfully advocating for your financial rights in pursuit of an optimal case outcome. For more information, please don’t wait to contact us online or give our firm a call at 813-437-3830 today.