Non-marital Property vs. Marital Property in a Florida Divorce

If you are a party in a Florida Divorce and have taken inventory of all of the various property issues involved, you will want to discover what property is Nonmarital and what property is Marital. You should have this information before you meet with your lawyer or devise a plan for splitting up the assets or property and liabilities.

Here are examples of Nonmarital and Non-Marital Property:

•  Husband purchased a house 10 years before the marriage and the house is owned by him free and clear. During the marriage, the parties use marital funds (based upon their incomes) to pay for taxes, renovations, upkeep, etc. Part of the value will be nonmarital and part of the value will be marital;
• The Wife receives from the Husband an engagement ring worth $25,000. That ring is nonmarital and is solely the Wife's property;  
•  During the marriage, the Husband receives One Million Dollars in cash as an inheritance and places the inheritance into a money market account. He has the Wife's name added to that account, but solely for convenience purposes. The Husband used $5000 to pay marital expenses during the marriage, which lasted 3 years and 2 months. The Husband made no promises to the Wife about his inheritance and intended to keep the entire inheritance as his. The inheritance is not marital in these circumstances.
•  During the marriage, one spouse receives a large cash gift from a relative, which the wife deposited into the parties' joint savings account. Over time, the account grew in value to over $15,000. The entire amount is marital.
• The Husband's exotic car collection of 5 high end sports cars was purchased prior to the parties marriage. Over a period of the 20 year marriage,  the cars  recorded growth in their valuation by over $100,000. That increase or appreciation in value during the years of marriage was subject to equitable distribution.  

For more assistance with property questions in a Florida Divorce, contact a well-qualified lawyer to more fully answer your questions.

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