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Interesting Case in Florida on Marital versus Nonmarital Assets

There was an interesting case in Florida Law Weekly on Oct. 27, 2021. The case was Padres v Padres, 46 Fla. L. Weekly D2320a (3rd District 2021). Padres v Padres dealt with a prenuptial agreement and contained a good discussion on marital versus nonmarital assets when you have a postnuptial agreement.  

The case discusses Section 61.075(6), Florida Statutes (2019), which sets forth what is to be considered marital property in Florida:

(6) As used in this section:

      (a) Marital assets and liabilities include:

1. Assets acquired and liabilities incurred during the marriage, individually by either spouse or jointly by them. 
2. The enhancement in value and appreciation of nonmarital assets resulting from the efforts of either party during the marriage or from the contribution to or expenditure of marital funds or other forms of marital assets, or both. 
3. The pay down of principal of a note and mortgage secured by nonmarital real property and a portion of any passive appreciation in the property, if the note and mortgage secured by the property are paid down from marital funds during the marriage. The portion of passive appreciation in the property characterized as marital and subject to equitable distribution is determined by multiplying a coverture fraction by the passive appreciation in the property during the marriage.  

     (b) Nonmarital assets and liabilities include:

1. Assets acquired and liabilities incurred by either party prior to the marriage, and assets acquired and liabilities incurred in exchange for such assets and liabilities;
2. Assets acquired separately by either party by noninterspousal gift, bequest, devise, or descent, and assets acquired in exchange for such assets.
3. All income derived from nonmarital assets during the marriage unless the income was treated, used, or relied upon by the parties as a marital asset.

The parties had no minor children, and they were married for 33 years. They separated several times and filed for divorce on two separate occasions. During these separations, the parties entered into several postnuptial agreements that dealt with their substantial assets. In this case, the parties had a postnuptial agreement, and they agreed to trial before a voluntary trial resolution judge pursuant to Florida Statutes section 44.104.  

If you have more questions regarding a Marital and Family Law matter, you may call Ann Marie Giordano Gilden at Ann Marie Giordano Gilden, P.A. at 407-732-7620 and set an initial consultation. 

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