Marital vs. non-marital property
Florida law begins by classifying every asset and every debt as either marital or non-marital. Marital property is generally subject to division; non-marital property is not.
- Marital — assets and debts acquired during the marriage, regardless of whose name is on the title
- Marital — interspousal gifts during the marriage
- Marital — appreciation in non-marital assets caused by marital labor or marital funds
- Non-marital — assets owned before the marriage and kept separate
- Non-marital — inheritances and gifts from third parties to one spouse
- Non-marital — assets the spouses identify as non-marital in a valid written agreement
How courts divide marital property
Equitable distribution starts with the premise that an equal split is appropriate. Florida Statute 61.075 lists factors that may justify an unequal division, including the contribution of each spouse, the economic circumstances of the parties, the duration of the marriage, and any intentional dissipation of marital assets by one spouse.
The marital home
Florida couples often handle the marital home in one of three ways: one spouse buys out the other's interest, the home is sold and proceeds divided, or one spouse remains in the home with the other for a set period (most often to allow minor children to finish a school year). Each path has tax and refinancing implications, which is why the marital settlement agreement should spell out the mechanics in detail.
Retirement accounts
401(k)s, pensions, IRAs, and other retirement accounts are divisible to the extent they were funded during the marriage. Dividing employer-sponsored retirement plans typically requires a Qualified Domestic Relations Order (QDRO) drafted after the divorce.
Business interests
A business owned by one spouse may have both non-marital and marital components — the value at the date of marriage is non-marital, while appreciation during the marriage caused by either spouse's labor is typically marital. Business valuations are often required and are outside the scope of uncontested document preparation.