Protecting Your Non-marital Property and Assets
Divorce is rarely an easy process for couples. Even for those splitting up amicably, frustration can sometimes emerge when dealing with sensitive issues such as child custody or property and asset division. Florida abides by the principle of equitable distribution, meaning that any and all property and other assets acquired during the marriage is divided equally, unless there’s justification for an unequal distribution based on various factors, such as contributions to the marriage, the economic circumstances of the parties, etc. However, nothing is black and white. Many people do not realize that if they commingle their own assets, those very assets can turn into marital assets (to be distributed equally). And this not only applies to property and assets, but debts incurred during the marriage by one individual as well. If you and your spouse are separated and/or otherwise heading for divorce, there are steps you can take to help ensure that any assets you deem to be separate, non-marital property—and belonging to you—stay that way; steps such as: Personal Bank Accounts in a Divorce Any bank accounts that have opened in your name only and purposely kept separate from joined checking accounts—for example, money that was inherited—will be easier to keep as non-marital property. Home and Property Improvements in a Divorce If you owned property prior to your marriage—or even inherited or otherwise purchased property during your marriage—demonstrate your intent to keep that property separate as your own non-marital property by ensuring that you manage it separately and that joint funds do not go into paying for the mortgage or into home improvements. Keep a very detailed log of any and all transactions related to this separate property so that you can document that it has remained non-marital property. Protect your Businesses in a Divorce A prenuptial agreement can help define any businesses you own to be a separate asset, but when it comes to paying taxes and business income, you will want to ensure that you consult with an experienced family law attorney to ensure that your business remains non-marital property. A postnuptial agreement can also help define and divide property and assets between you and your spouse, or soon-to-be former spouse. The difference between a prenuptial agreement and a postnuptial agreement is that a postnuptial agreement is entered into after a couple has been legally married. Florida courts impose an additional condition upon parties seeking to enter into a postnuptial agreement: full financial disclosure. Consult With an Experienced Florida Divorce Attorney In fact, consulting with an experienced attorney is wise at all stages of marriage: before, during, and after. Your attorney can help you draft a prenuptial or postnuptial agreement, which lay out what properties and assets will remain separate during marriage, and also help you ensure that you are on the right track in how you are managing your assets in order to keep them as separate property. If you or someone you know is preparing to get married or going through a separation or divorce, contact the family law attorneys at HD Law Partners today in Tampa or Sarasota. Our experienced divorce and property distribution attorneys provide the legal representation you need in these cases, ensuring that you remain protected, regardless of your particular circumstances. Get in touch and let us help you. Resource: leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.075.html Tags: Asset Division, Florida Property Distribution, Non-Marital Property, Postnuptial Agreements, Sarasota Family Law, Tampa Divorce Lawyer, Tampa Divorce Lawyers, Tampa Family Law Attorney, Tampa Family Law Attorneys Posted in Divorce | No Comments » Connect with us Archives May 2026 April 2026 March 2026 February 2026 January 2026 December 2025 November 2025 October 2025 September 2025 July 2025 June 2025 January 2025 January 2024 December 2023 November 2023 October 2023 September 2023 August 2023 July 2023 June 2023 May 2023 April 2023 March 2023 February 2023 January 2023 December 2022 November 2022 October 2022 September 2022 August 2022 July 2022 May 2022 April 2022 March 2022 November 2021 October 2021 September 2021 August 2021 July 2021 May 2021 April 2021 March 2021 February 2021 January 2021 December 2020 November 2020 October 2020 August 2020 July 2020 June 2020 May 2020 April 2020 March 2020 February 2020 January 2020 December 2019 November 2019 October 2019 September 2019 August 2019 July 2019 June 2019 May 2019 April 2019 March 2019 February 2019 January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017 July 2017 June 2017 May 2017 April 2017 March 2017 February 2017 January 2017 December 2016 November 2016 October 2016 November 13 Categories Alimony Appellate Arbitration Auto Accidents Auto Insurance Business Corporate Business Insurance Law Child Custody Child Support Criminal Law Divorce Family Law FEMA Insurance Payments Florida’s Mandatory 2‑Hour Legal Professionalism CLE: Foreclosure Defense Fort Myers Hurricane Insurance Attorney General Guardianship HD Law Partners Service HOA/Property Management Homeowners Association Homeowners Insurance Hurricane Claims Hurricane Insurance Insurance Bad Faith Insurance Claims Insurance Defense Insurance Litigation Landlord Tenant Law Enforcement Liability Loan Modifications Mold Water Damage Parental Rights Paternity Personal Injury Premises Liability Law Prenuptial Agreements Private Security Property Distribution Property Owner Law Sarasota Insurance Litigation Attorney Slip Fall Tampa Business and Corporate Attorneys tampa family attorney Tampa Insurance Attorneys Timeshare Timesharing Uncategorized HD Law Partners is proud to be your trusted full-service law firm Quick Links Property & Casualty Business & Corporate Litigation Family Law Contact Us Careers Get In Touch 2002 North Lois Avenue Suite 510 Tampa, FL 33607 813-253-5333 Contact Us