When a couple decides to separate, one of the first things they need to do is figure out what property is considered "separate" and what is considered "marital." This distinction becomes very important during the property division process as it can help determine ownership. The team at Autumn Beck Blackledge PLLC can help explain the different types of assets that are typically included in these categories. We will also discuss how marital property can become more complex when there are more conflicts or assets to consider.
Separate Property in Florida
Separate property is any asset that is owned by one spouse prior to the marriage, or that was acquired during the marriage through inheritance or gift. This property is not subject to division in a divorce.
In Florida, separate property includes:
Anything acquired before the marriage
Anything received as a gift or inheritance during the marriage
Anything excluded from marital property by a valid prenuptial agreement
Marital Property in Florida
Marital property, on the other hand, is an asset that is acquired during the marriage. This includes all income and assets amassed by either spouse during the marriage. Marital property is subject to the division process during a divorce.
Marital property includes:
All income earned and assets accumulated during the marriage (regardless of whose name is on the asset)
Anything acquired during the marriage with marital funds (even if only one spouse's name is on the asset)
Any increase in value of the separate property during the marriage, specifically for businesses
Attorneys Experienced in Property Division
If you are going through a divorce in Florida, it is important to understand how these different types of assets will be divided. An experienced family law attorney can help you protect your interests and get what you deserve. Autumn Beck Blackledge PLLC can help you navigate this process and ensure that your rights are protected.
Contact our office today at (850) 404-7263 to schedule a consultation with one of our experienced divorce attorneys!