Equitable Distribution: Marital v. Nonmarital Assets

Equitable Distribution During Divorce

Picture of a home that would be considered an asset during equitable distribution during a divorce case.

Property, money and other assets are equitably distributed by Florida law during a divorce.

During the proceedings of a divorce case, the marital assets of the parties must be divided between them. Florida divorce law requires that the court must equitably divide marital assets between the parties, unless there are extenuating circumstances that may warrant an unequitable distribution. However, assets deemed nonmarital, remain with the individual owner, and not divided between the parties.

Generally, assets that are considered to be marital are:

  • Assets acquired during the marriage, either by one party individually or jointly (such as real estate);
  • Nonmarital assets that have enhanced in value due to the efforts of either party during the marriage or from the contribution of marital funds (such as
    the value of the marital home);
  • Gifts given from one spouse to the other spouse during the marriage (such as a diamond anniversary band);
  • Benefits and funds accrued during the marriage in retirement, pension, profit-sharing, annuity, deferred compensation, and insurance plans and programs;
  • Real property held in concurrent ownership (such as tenants by the entireties), whether acquired prior to or during the marriage;
  • Personal property held in concurrent ownership (such as tenants by the entireties), whether acquired prior to or during the marriage.

Nonmarital assets are typically assets that are:

  • Assets acquired by either party prior to the marriage;
  • Assets acquired separately by either party by noninterspousal gift and assets acquired in exchange for these assets;
  • Income derived from nonmarital assets during the marriage;
  • Assets excluded from marital assets by valid written agreement of the parties.

Although these are the general rules, a nonmarital asset may become a marital. If you have questions or concerns about equitable distribution of assets during a divorce, do not hesitate to call the Jacksonville, Florida divorce law firm of Fletcher & Phillips now!  904.353.7733

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