What is considered marital property in Florida?
Florida law explicitly states that marital property is comprised of those “[a]ssets acquired and liabilities incurred during the marriage, individually by either spouse or jointly by them.” § 61.075(6)(a), Florida Statutes. Typically this means that identifying an asset or liability as “marital” or “nonmarital” will in part come down to determining when the asset was acquired. Marital assets are subject to distribution, while nonmarital assets are not subject to distribution. Assets or liabilities that are incurred while the divorce proceeding is pending, but before the divorce is finalized, are typically considered “non marital” assets. In addition to property acquired during the marriage,...Continue reading