How do I know which assets are non-marital assets?

When you are involved in a divorce, knowing in advance how family court in Florida views non-marital assets is important.  One option which many couples often overlook at the beginning of a serious relationship is that a well written pre-nuptial agreement can decide and define which assets are not to be considered marital assets in the future.

In the absence of such an agreement, at the time of a legal separation or divorce, the divorcing couple does have the right to divide all of their property as they see fit, as long as both parties are in agreement. More often, if this issue is left open until the time of divorce it is difficult for couples to agree on this, and the courts have to step in.

When considering what falls into the category of a non-marital asset, you should also think in terms of non-marital debts as well, assuming those exist. Under Florida law, non-marital assets can include:

• Property, bank accounts, investments that you owned before your marriage
• Gifts you were given by your spouse
• Assets you inherited
• Assets you purchased separately
• Assets that were specifically excluded as marital in a binding pre-nuptial agreement, or an agreement that was made during the marriage.

An exception to this could be in the case of property or other assets that increased in value during your marriage. If either your or spouse was actively involved in the management or growth of the asset during your marriage, then you would have to put a value on the amount of the increase since the marriage, and only the asset itself and half of the value of the increase would be considered non-marital property because your spouse could be given half of the value of the increase.Legal Help

If you have any reason to believe the division of marital and non-marital assets will be contentious in your divorce, you should immediately seek the assistance of a divorce attorney. It is extremely important that you get sound legal advice and have your own representation to protect your rights and your future finances.