marital property

Florida Marital Property

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 Statutes¹. 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. Because the division of these assets significantly impacts the financial standing of both parties, it is often a major factor considered by the courts when awarding alimony. Assets or liabilities that...

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