Marital Assets and Liabilities Part 7 of 15 | Divorce Attorney Fort Myers/Naples
Nonmarital assets and liabilities include:
- Assets acquired and liabilities incurred by either party prior to the marriage, and assets acquired and liabilities incurred in exchange for such assets and liabilities;
- Assets acquired separately by either party by noninterspousal gift, bequest, devise, or descent, and assets acquired in exchange for such assets;
- Test: where the husband received them as gifts from his mother, 1) kept them in his name only, 2) and never commingled the funds in a joint account. Tradler v. Tradler, 100 So.3d 735, 743 (Fla. 2d DCA 2012)
- All income derived from nonmarital assets during the marriage unless the income was treated, used, or relied upon by the parties as a marital asset;
- Assets and liabilities excluded from marital assets and liabilities by valid written agreement of the parties, and assets acquired and liabilities incurred in exchange for such assets and liabilities; and
- Any liability incurred by forgery or unauthorized signature of one spouse signing the name of the other spouse. Any such liability shall be a nonmarital liability only of the party having committed the forgery or having affixed the unauthorized signature.
- Property acquired during the marriage through the exchange of non-marital assets is non-marital. Beaty v. Gribble, 652 So.2d 1156 (Fla. 2d DCA 1995).
- Debts to cover non-marital expenses. To the extent that a party incurred debts to cover non-marital expenses, the debt should not be classified as marital debt for the purpose of equitable distribution. Fortune v. Fortune, 61 So.3d 441, 445 (Fla. 2d DCA 2011)
- Test: make a finding as to 1) when the debt was incurred or 2) what the debt was used to pay.
For more information please contact us to schedule your free consultation.
Serving the One
At the Guardian Law Firm, we believe in the sanctity of marriage. It is our goal to provide you with as many resources to help salvage your marriage. If all else fails, we are here to help you facilitate the divorce process to establish long-term stability that minimizes the need for subsequent court action as well as the emotional drain on the parties and families.
We strive to provide the best client service possible in a warm and welcoming environment. To that end, we place a high priority on detail, value, service, and communication, beginning with the initial consultation, and continuing even after the matter is resolved.
We are committed to providing the kind of service and environment that we all want as consumers.
With representation and the right attorneys in their corner, our clients will return to being the productive citizens and family members they have been and wanted to be again.
We truly are here to serve the one.