Fort Lauderdale Divorce Lawyer Blog
It is well established under Florida law that, absent a prenuptial or postnuptial agreement, marital assets are subject to equitable distribution in divorce actions, while separate assets are not. It is not uncommon for a court to mischaracterize an asset, however, and order a separate asset to be divided among the parties. Recently, a Florida court issued an opinion clarifying the classification of assets in divorce actions, in a matter in which it ultimately reversed the trial court’s determination. If you have questions about your rights with regard to equitable distribution, it is smart to speak to a Miami divorce lawyer.
Factual History and Procedural Background
It is reported that the husband and wife were married but filed an action to dissolve their union. The trial court ultimately issued a final judgment, distributing the parties’ community assets. The husband then sought review of the final judgment issued by the trial court. One of the key issues in the appeal concerned the inclusion of one of the husband’s bank CD accounts in the equitable distribution schedule. The husband argued that this account was a nonmarital asset, as he had acquired it ten years before the marriage and maintained sole control over it throughout the marriage. The trial court, however, had classified the account as a marital asset subject to equitable distribution.
Classification of Assets in Divorce Actions
On appeal, the court found that the sole issue raised by the husband that warranted review was the trial court’s classification of the CD account. The court explained that under Florida law, assets acquired by one party before marriage are generally considered nonmarital assets unless there is evidence of enhancement, commingling, or intent to gift the asset to the other spouse during the marriage.
In this case, the court found that the evidence clearly established that the husband had acquired the account before the marriage and had maintained sole control over it, with no evidence suggesting that it had become a marital asset. Citing relevant legal standards, the court ruled that the trial court erred in classifying the CD account as marital property.
Consequently, the court reversed the portion of the final judgment that included the account in the equitable distribution schedule and remanded the case to the trial court to remove the asset from the schedule and make any necessary adjustments. The remainder of the judgment was affirmed.
Meet with an Experienced Miami Attorney
In many divorce actions, one of the most disputed issues is how assets should be characterized and divided. As such, if you are considering ending your marriage or were recently served with divorce papers, it is advisable to speak to an attorney about what measures are available to protect your interests. The experienced Miami divorce lawyers at the Law Offices of Sandy T. Fox, P.A. are well-versed as to what it takes to obtain favorable outcomes in dissolution proceedings, and if you hire us, we will work tirelessly on your behalf. You can contact us at 800-596-0579 or by using the online form to arrange a conference.