Nonmarital Assets & Divorce in Naples

Our Naples Attorneys Can Protect Your Assets

During a divorce, the accurate characterization of all assets and liabilities is vital to achieving equitable asset division. This can significantly impact other areas of the divorce, including alimony and child support. Hiring an experienced law firm to protect your interests is crucial. At Long, Murphy & Shemkus, P.A., we know that many divorces are forced to trial over this very issue, and our Naples family law lawyers are committed to helping our clients achieve the best possible results without entering the courtroom.

Identifying Nonmarital Assets in Florida

In Florida, there are six primary forms of nonmarital assets and liabilities:

1. Debts or assets a spouse acquired prior to the marriage, including any assets that a spouse has acquired or debts that a spouse has incurred in exchange for such debts or assets;
2. Any assets that either spouse acquired separately, by bequest, gift, etc. and any assets that a spouse has acquired in exchange for such assets;
3. Any income that a spouse has acquired during the marriage from nonmarital assets, unless such income was treated, used, or relied on as marital income;
4. Assets identified as nonmarital property in a prenuptial or postnuptial agreement;
5. Liabilities incurred due to forgery by one spouse; and
6. Workers' compensation and personal injury settlement awards.

With more than 100 years of combined family law experience, our Naples attorneys understand the potential pitfalls and obstacles that can arise while characterizing marital and nonmarital property during a divorce.

Are Inherited Assets Protected From Divorce?

In general, inherited assets are protected from equitable distribution in a divorce because they are not considered marital property. Instead, inheritances are treated as separate property that belongs solely to the person who received them. There are some exceptions to this, such as when the inheritance has been comingled with other funds.

Is Florida a Community Property state?

No, Florida is not a community property state. Florida is an equitable distribution state, which means that marital property is not automatically divided 50/50. Instead, the court will attempt to divide assets in a fair and equitable manner.

Is Florida a 50/50 Divorce State?

Florida is not a 50/50 divorce state. State law reads that all marital property is subject to equal distribution, meaning that the court would likely divide property 50/50 unless there was a sufficient reason to split it another way. In other words, there needs to be "legally sufficient justification for an unequal distribution which is given based on the relevant statutory factors." For more information, contact our skilled family law attorneys today.

Use of Assets & Commingling

Tracing nonmarital assets to their origins can present numerous challenges. At Long, Murphy & Shemkus, P.A., we will aggressively pursue all relevant bank records to prove inheritance transactions, transfers of assets, and other hard-to-find information in order to establish clear paper trails.

Additionally, we will carefully examine the use of assets during the marriage in order to identify possible transmutations of nonmarital property to marital property resulting from commingling. If nonmarital assets have appreciated during the marriage as a result of commingling of property, this must also be accounted for.