What is Marital Property in a Florida Divorce

If the parties, in a Florida divorce, fail to have a complete agreement as to the fair or equitable manner that all property is to be divided, that decision will be made by a judge at the Final Hearing.   Judges do not negotiate with the parties at the Final Hearing. Instead, you can expect a judge to listen to the evidence as to the criteria or elements in the law in deciding what is non-marital property and what is marital property. 

As a general rule, Florida law has determined that marital assets are property (tangible and intangible things of value) that the parties acquired during their marriage. It does not matter which spouse acquired any such asset or whose name appears on the title. An example of this, would be if the Husband buys a preowned GMC Sierra pick-up truck for $45,000 and titles the truck in this name during the marriage. He may also have a car loan for the pick-up truck that is also titled in his name. The truck is an asset as is the liability for the money owed on the truck for the loan he obtained.

All marital assets or property and liabilities (credit cards, mortgages, car loans, etc.) are those that the parties acquired during the marriage. You should be prepared to value everything that is marital by getting statements or appraisals to support your opinions as to the value of all such assets or property and liabilities.

In some situations, the “Equitable Distribution” of Assets and Liabilities is not always, 50/50. The Length of the Marriage is a huge factor. In a short-term marriage, such as a marriage of just a few years, there is more equal footing to how the property will be divided. But in a long-term marriage, such as the one where one of the parties was the primary “breadwinner”, the law favors giving the spouse with a lower income a greater share of the equitable distribution, which makes the 50/50 division unlikely.

For these reasons and your questions regarding Florida's Equitable Distribution law and recent changes in the law, you should set up a conference with a qualified Florida Divorce lawyer.

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