Florida’s equitable distribution laws are set out in F.S. §61.075. This statute gives the court the power to divide a couple’s marital assets following a dissolution proceeding. In order to distribute assets, the court must first classify each partner’s property as “marital” or “non-marital.” It may be best to contact Jodat Law Group Bradenton Sarasota Divorce attorneys to give you the proper guidance, as every case is unique in detail.

Establishing the Duration of the Partnership

In order to classify assets, the court must first determine the dates of the partnership. While the beginning of the marriage is the date on the marriage certificate, setting the ending date of a marriage can be complex. This is because the official date the couple dissolves the marriage may include a substantial period of time after the couple has officially decided to divorce; hence, it would be illogical to consider any assets acquired during this period as “marital” assets. Therefore, the courts will determine a cutoff date, which is the earliest date the couple entered into a valid separation agreement or a date established in the separation agreement. If no separation agreement exists, the courts will refer to the date the dissolution of marriage was filed.

Classifying Assets as Marital or Non-Marital

Once a cut-off date is established, liabilities and assets must be classified before they can be distributed. Under §61.075(1), only marital assets can be distributed; therefore, the courts will refer to the guidance set forth in §61.075(5)(a) and §61.075(7) to determine which liabilities and assets are marital and which are non-marital.

Under the statute, marital assets are defined as:

Assets and liabilities acquired during the marriage. This includes any assets purchased or otherwise acquired – even if only one spouse purchased the asset from their own funds.
Enhancement in value or appreciation. If a non-marital asset becomes more valuable because of the direct involvement of one or both spouses, the enhancement value of that asset becomes marital property.
Interspousal gifts. When one spouse gives the other spouse a gift during the marriage, it is considered marital property.
Certain retirement benefits. The statute also states that “vested and non-vested” benefits accumulated during the marriage in the form of retirement or insurance plans can be considered marital property.
Non-marital property, on the other hand, is not part of the marital estate. Therefore, non-marital property is not subject to equitable distribution. Instead, the spouse who acquired that property is entitled to full ownership after the dissolution of marriage. Non-marital property includes any assets acquired before the marriage as well as property acquired through gifts (not from the spouse) or inheritance. It may also include income derived from non-marital assets and any assets or property specifically excluded in a prenuptial agreement.

Schedule a Time to Meet with Jodat Law Group

Jodat Law Group can help you understand the differences between marital and non-marital assets. We have years of experience helping clients classify assets in accordance with Florida statutes and reaching an agreeable equitable distribution plan. Contact Jodat Law Group, P.A. online or call 877-JodatLaw for a free consultation.