Florida Property Rights in Bradenton Divorce
March 9, 2016
Bradenton Divorce – What Are Your Property Rights?
When spouses purchase property during a marriage, with only limited exceptions, that property becomes what is known in Florida as, “marital property.” While many people use the term, “community property,” this is actually a unique legal concept that only applies in a handful of states outside of Florida. Your Bradenton divorce attorneys at Jodat Law Group are here to help you get back on your feet!
As we will explain, understanding which of your assets are “marital property” and which are separate property is critical when going through a Bradenton divorce. So, if you are considering a divorce, or if you are engaged to be married and want to make sure you know how your assets will be treated in the event of a separation, we encourage you to speak with one of our family law attorneys today.
Marital Property or Separate Property?
As a general rule, any property that either spouse acquires during a marriage will become marital property. This means that it is deemed to be owned equally by both spouses. This is contrasted with separate property, which remains wholly owned by a single spouse. Some examples of assets that will generally remain as separate property include:
- Accounts, money, businesses, and property owned prior to the marriage
- Gifts to one spouse during the marriage
- Income from separate property
- Items purchased with or exchanged for separate property
But, keep in mind that these are just general rules. The unique circumstances of your marriage may warrant a different determination. If you have a prenuptial agreement or postnuptial agreement, these can provide for alternate treatment of property as well.
Equitable Distribution of Marital Property in a Bradenton Divorce
In a divorce, Florida law provides:
“[I]n distributing the marital assets and liabilities between the parties, the court must begin with the premise that the distribution should be equal, unless there is a justification for an unequal distribution based on all relevant factors.”
In other words, when you file for divorce, all of the marital property you share with your spouse will be divided equally, unless the circumstances warrant an unequal split. This is known as the rule of “equitable distribution.” Some of the factors that come into play when dividing marital property in a divorce include:
- Each spouse’s contributions to the marriage
- The spouses’ economic circumstances at the time of divorce
- Interruptions in either spouse’s career or education
- The duration of the marriage
- The desirability of maintaining certain assets, such as business interests, free from any claim or interference
The Florida courts heavily favor allowing spouses to agree to the terms of their divorce outside of the courtroom. As a result, unless two spouses are completely at odds, they will generally work together (at least in some capacity) to agree upon an equitable distribution of their property. At Jodat Law Group, we have decades of experience helping divorcing spouses in Florida protect their interests during the equitable distribution process.
More Questions? Contact Jodat Law Group Today
If you are considering filing for a Bradenton divorce in Florida, or if your spouse has already filed, our attorneys can help you understand your options and protect your legal rights. To schedule a free consultation, please contact us today.
