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Understanding Marital & Non-Marital Property

Florida law requires an equitable distribution of marital property in a divorce. A divorce attorney Boynton Beach can help you through one of the most disputed issues in settlements.There are two important questions here:

  • What is equitable distribution?
  • What is included under marital property?

Equitable distribution

This does not mean an ‘equal’distribution. Instead, it means a fair distribution of property for both spouses. An equal and fair split is the most desired for all parties.

Marital property

What is included under marital property often becomes a dispute. Ultimately, it is up to the court to decide this. According to the law, marital property is:

  • Assets acquired during the marriage
  • Property held as tenants by the entireties as a joint ownership. These are properties available only to married couples.
  • Any increase in the value of non-marital assets because of work or funds spent by the other spouse or both spouses. Marital funds used in any enhancements will be counted.
  • Gifts given to one spouse by the other
  • Certain retirement benefits

All in all, marital property can have a wide range of things. It is important to hire a divorce attorney Boynton Beach to help guide you through this process.