If you’re considering a divorce in Florida, one of the first concepts you will want to understand is what qualifies as a marital asset. This definition will serve as the foundation for how property will be equitably divided between you and your spouse.
Marital vs. Non-Marital Assets
In Florida, marital assets generally include anything of value that was acquired by you or your spouse during the marriage—regardless of whose name is on it.
Common examples of Marital Assets include:
- Your marital home;
- Other real property that you or your spouse purchased during the marriage;
- Financial accounts, such as banking, retirement and investment accounts;
- Automobiles, Boats, RV’s and other transportation assets;
- Business interests and other income producing assets;
Why It Matters
Understanding what is considered a “marital asset” is essential because Florida follows the principle of equitable distribution. That means that typically a schedule of your marital assets will be prepared, and all items will be accurately valued, before you and your spouse are asked to discuss a potential agreement on how you will divide these marital assets fairly.
A Better Way to Divide Property
In the Collaborative Divorce Process, both you and your spouse will have a specially trained collaborative divorce attorney to walk you through the process of identifying and valuing your “marital assets”. They will assure that all needed information is obtained and that Florida law is applied to help you reach an agreement that is fair to you and your spouse, and that supports the long-term goals for your family.
This out of court process reduces conflict, protects your privacy, and allows for custom solutions that better reflect your family’s unique circumstances and goals.
Considering Divorce in Palm Beach County? We Can Help.
If you’re exploring divorce options in Florida and want to avoid court, contact us today. We’ll guide you through a respectful and efficient divorce, that is focused on solutions and privacy—not conflict and court and delays.
Helpful Resources for Florida Families:
Mindful Divorce Services – Fixed Fees
