What Constitutes as a Maritial Asset in Florida?

State%20Maps%20Florida.jpg

In a Florida divorce proceeding, the family courts set aside all non-marital assets and liabilities and equitably distribute all marital assets and liabilities between the parities. Therefore, it is helpful to know what constitutes a martial asset in order to determine what property you are entitled.

Martial property includes any property acquired during the marriage by the efforts of either spouse. Also, a spouses retirement account, IRAs and 401k plans may be subject to equitable distribution if that plan or account was acquired by one spouse during the marriage. Marriage is defined as the date of marriage to the date of filing the divorce.

Some concrete examples of “marital property” include but are not limited to:
1. A home, if the home was purchased during the marriage with the earnings of one or both parties.
2. A pension plan, to the extent the plan accrued during the marriage.
3. The value of bank accounts, mutual funds, etc., to the extent the funds deposited were earned by either party during the marriage.
4. Gifts between spouses during the marriage.

See Florida Statute sec. 61.075: Equitable Distribution of Marital Assets and Liabilities for the exact language of the Florida Statute.

If you are planning on filing for a divorce you should contact a Florida Divorce Attorney. An attorney will be able to explain to you, in detail, the types of property that are subject to division in a Florida divorce proceeding.