Is Your Boating Vessel at Risk?
Boating is a popular pastime in Florida. Many people own boating vessels to enjoy a fun day on the water with friends and loved ones or as a way to make money. Should a scenario arise where you find yourself facing divorce, you may be curious as to what will become of your boat.
In Florida, a judge will seek to split up marital property evenly or equitably so that both parties get their fair share. In most cases, these judges will allow soon to be former spouses to retain ownership of property that isn’t deemed marital property. Hence, if you purchased or inherited your boat prior to tying the knot, you more than likely have exclusive ownership of it.
Let’s say, however, that the boat is an integral part of the business you launched with your spouse when you were married. In this case, the boat becomes a component in your marital estate and, therefore, the spouse may likely have some degree of ownership interest regarding the vessel.
While judges will seek to divide assets evenly, it may be possible to negotiate an arrangement where you can keep the boat.
This update is provided by the firm Rafool, LLC. We have a strong reputation throughout Florida and we have numerous years of experience representing clients involved in complex divorce cases as well as other family law matters. Should you have any domestic or family issue, we are here to assist you by providing educated advice and skilled, professional advocacy. Call 305-567-9400 to speak with a Miami family law lawyer or a Miami FL divorce attorney.
This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.