Divorce can be a complex process, especially when it comes to property division. Florida follows an "equitable distribution" approach to dividing assets between spouses. Under this system, the court aims for a fair, though not necessarily equal, distribution of marital property.
Understanding Marital vs. Non-Marital Property
Marital property includes assets and debts acquired during the marriage. Such assets can include income, retirement accounts, or real estate purchases made with joint funds. Anything acquired during the marriage usually qualifies as marital property, irrespective of who holds the title.
Non-marital, or “separate,” property includes assets owned before the marriage, acquired as a gift, or inherited during the marriage. Items like family heirlooms, inheritances in one spouse's name, or properties held before marriage typically fall under non-marital property. A spouse who brings a substantial property into the marriage could keep that property during divorce proceedings.
Equitable Distribution in Florida
Florida courts attempt to distribute assets fairly, or “equitably,” in a divorce. Therefore, spouses should not expect to receive equal shares of the assets. For instance, one spouse may have paid for a vehicle, but if the other spouse is the primary user, the vehicle may go to them.
Judges consider various factors to achieve fairness. These include the length of the marriage, the economic circumstances of each spouse, contributions to the marriage, and any interruptions to personal careers or educational opportunities. The court also examines each party's financial and non-financial contributions to the marital home and family.
Exceptions to Equitable Distribution
In Florida, certain situations may lead to an unequal division of property during a divorce. Courts can decide not to split property equally if evidence shows domestic abuse or domestic violence.
Abuse affects the victim's well-being and may lead to the court awarding more assets to the victim for compensation or security. Non-owning spouses who contribute to property, like a home, also influence property division. Contributions can include maintaining the property, renovating, or using personal skills to enhance value. These efforts can justify awarding a larger share to the contributing spouse. Courts examine each case's unique circumstances to reflect fairness over strict equality.
How to Protect Your Property
Protecting property involves several key steps before and during marriage. Couples should discuss finances and assets openly. Understanding each other’s financial landscape helps in crafting a plan for future property ownership.
Prenuptial and postnuptial agreements can play a significant role in property division during a Florida divorce. They clearly define how assets and debts will be handled if the marriage ends. Couples draft prenuptial agreements before marrying, while postnuptial agreements occur after marriage. These legal documents safeguard personal property and simplify the divorce process. By establishing terms in advance, couples often avoid lengthy disputes and uncertainty. Courts uphold these agreements if they are fair and properly executed.
Claiming entitlement is another strategy for protecting your assets. Essentially, this process attempts to convince the court that certain property rightfully belongs to you. You begin claiming entitlement with documentation. Keeping records of asset ownership helps prove any claims during divorce proceedings. Contributions to marital property also play a role when claiming ownership. For instance, you may have been the primary caretaker of the home, even if you did not contribute to it financially. Documenting efforts such as property renovations or financial investments can support claims for larger shares.
Consulting with a legal professional throughout your divorce is vital. Lawyers provide guidance on creating enforceable agreements. They help navigate legal nuances and protect personal assets. Legal counsel can recommend actions if disputes arise. Seeking professional advice at various marriage stages establishes a solid foundation for future asset protection, ensuring interests remain safeguarded.
Orshan, Spann & Fernandez-Mesa is here to help you achieve fair asset division in your divorce. You can schedule a consultation with our team by contacting us online or calling us at (305) 853-9161.
