Divorce - Assets and Liabilities
Updated: Mar 24
The division of the assets and liabilities acquired during the marriage are governed by Florida Statute 61.075. As with most legal concepts there are exceptions, but generally everything that you acquire as a married couple, beginning from the moment you are married and continuing through the date the divorce is filed, is subject to division by the Court.
If the asset or liability was acquired during the marriage it does not matter if it is in one spouses name only, it is still considered marital property. This can include a "marital portion" of a spouse's pre-existing bank accounts, retirement accounts, and pension plans.
For example, if the Husband had a 401k retirement plan prior to the date of marriage, and the Husband continues to contribute to that retirement plan after the marriage but before filing for divorce, it is likely that there is a marital portion of the Husband's retirement plan that will be divided between the parties upon divorce.
Call Phipps at (813) 600-3201 or Contact Us to schedule a free 15 minute telephone consultation to better understand your rights and to learn how legal representation may benefit you with your specific situation.