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DIVIDING YOUR MARITAL PROPERTY AND DEBTS

One of the first steps in a Florida divorce is dividing your marital assets and debts. Generally, all property (such as houses, cars, furniture, bank and retirement accounts, etc.) acquired during the marriage will be ‘marital property’. Property acquired before the marriage may not be ‘marital’ but if the value has appreciated during the marriage, the appreciation may be considered ‘marital’. The same general rule holds true for any debts or liabilities incurred during or before the marriage. When you subtract the value of the ‘martial property’ from the ‘marital debts’, you arrive at the ‘net marital estate’. Typically, the value of the ‘net marital estate’ is divided 50-50 in a divorce. There are exceptions and you will need to consult with a qualified, experienced family law attorney to determine how a court will divide your ‘net marital estate’ in your divorce case.

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