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Why is There a Difference Between Separate Property and Marital Property Matters in an Orlando, Florida Divorce?

F.S. 61.075(1) states: in a proceeding for dissolution of marriage, the court shall set aside to each spouse that spouse’s nonmarital assets and liabilities.

The engagement ring is nonmartial because it was given to your spouse prior to the marriage. It is the nonmartial property of the spouse that received it.

Nonmarital property is any property that you had prior to the marriage that you kept segregated. That means the amount in your 401(K), IRA and retirement accounts at the date of the marriage, that was kept in your name only is nonmarital. However, any monies you contribute to the accounts during the marriage from your pay check are marital.

If you receive a gift or inheritance during the marriage and keep that segregated, in your name only, then it is nonmarital property. Again any passive appreciation on that gift is nonmarital too.

If you receive $50,000 inheritance and leave it in an account in your name than it is nonmarital. Any interest in that account is nonmarital. If you commingle that money with marital money than the other side will argue that the commingled money is marital since you cannot trace it.

The same applies to debt. If you have student loans in your name prior to the marriage, then that is your nonmarital debt. Any interest that accrues on that debt is nonmarital.

If you have a house in your name prior to the marriage titled in your name only and you leave the title in your name, then it is nonmarital. Any active appreciation is marital. If you use marital monies to pay down the mortgage than that amount plus the appreciation from the payments is marital. However, if you add your spouse’s name to a house then there is a presumptive there was a gift.

You can protect your nonmarital assets by getting a prenuptial agreement prior to the marriage.

If you have further questions regarding marital versus nonmarital property and protecting your rights during an Orlando divorce, you can call Ann Marie Gilden, Esquire at Ann Marie Giordano Gilden, P.A. at 407-732-7620 and set up an initial consultation.

This article is for informational purposes only and does not form an attorney client privilege.