Marital assets are those obtained during the marriage, either separately or jointly, according to Florida law. Therefore, every dollar you earn while you are married is regarded as marital property. Nonmarital assets include gifts and inheritances received personally, as well as property bought before the marriage. They are not regarded as a component of the marital estate and are not divided during a divorce. Real estate is one example of an asset that may include both marital and nonmarital components.
It is also necessary to calculate and categorize the spouses' liabilities as either marital or nonmarital. The judge will determine a fair, but not necessarily equal, division between the parties once all marital assets and obligations have been discovered and evaluated.
In Florida, all judges start with the premise that the distribution of marital assets and obligations should be equitable, but they will weigh a number of criteria to arrive at the final distribution. These elements consist of:
Each spouse's contribution to the marriage.
The parties' financial situations.
Length of the marriage.
Any interruptions in employment.
The involvement of each spouse in the creation or improvement of all assets.
The benefits of keeping a couple's children at their marital house as their primary residence.
The deliberate destruction of marital assets.
Any additional factors the judge considers relevant.
The equitable distribution of marital assets is up to the judge's discretion. So that your interests are represented, it is crucial that you retain competent legal representation. In order to guarantee the court gets correct financial information and that you obtain the best possible distribution, an experienced Miami family law lawyer can assess your assets.
Miami FL divorce attorneys at Rafool, LLC are ready to help take on your case. We have experience with multiple types of cases with lawyers that have years of experience. To request a consultation, visit us online, or call 305.567.9400.