How Are Marital Assets Divided During A Divorce?

Marital Assets

Marital Assets

How Are Marital Assets Divided During A Divorce?

Marital vs. Non-Marital Assets

1. Marital.

How are marital assets divided? Marital assets are assets gained during the marriage, whether by one spouse or both. Assets gained during the marriage and not specifically claimed as non-marital are presumed to be marital assets unless disproven. 

Marital assets also include any increase in value of non-marital assets from either the efforts of the spouses during the marriage or the spending of marital funds or marital assets. Mixing non-marital assets with marital assets (for example, in joint accounts), may cause the non-marital assets to be considered marital.

2. Non-Marital.

Non-marital assets are assets of either spouse from before the marriage. Non-martial assets also include inheritance or gifts from an individual other than a spouse. 

Additionally, assets obtained in exchange for non-marital assets and income from non-marital assets become non-marital. Assets can also be non-marital if both spouses agree in writing. Assets obtained after a divorce petition is filed or a divorce order is finalized are not considered marital assets. 

Marital Asset Division

1. Equitable Distribution.

Florida courts begin with the presumption of equitable distribution of marital assets. Equitable distribution means a fair, often equal, division of marital assets. 

2. Unequal Distribution.

Florida courts can also allow unequal distribution of marital assets between the spouses based upon the following factors:

      • Contribution to the marriage, including child raising and home care
      • Financial situation
      • Length of the marriage
      • Interruption to a spouse’s career or schooling as a result of the marriage
      • Contribution to the other spouse’s career or schooling 
      • Interest in a business or professional practice free from the other spouse
      • Contribution to improving marital and non-marital assets
      • The child or another party’s interest in living in the marital home
      • Purposeful harm to marital assets since two years before the petition for divorce
      • Any other factor a court determines necessary to do justice 

Non-Marital Asset Division

1. Distribution of Non-Marital Assets.   

Non-marital assets are distributed to their respective spouses who controlled the assets prior to marriage or received the asset as inheritance or gift. 

However, the value of any enhancement to non-marital assets during the marriage or through other marital assets will be considered marital. 

Other Distributions

1. Cash Payments.

Florida courts can also require cash payments by a spouse as part of, or in replacement of, the distribution of marital assets. These cash payments can be one-time, lump sum payments or continuing installments. 

2. Alimony.

Alimony refers to support payments by one spouse to the other, whether a one-time payment or continuing payments. Alimony is determined separately from the division of assets. 

For more information contact Max Factor.  

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