In a Florid divorce does in matter if marital assets are held in just one party’s name?

The short answer is no.*   Under Florida law, assets acquired during the marriage by either spouse, whether individually or jointly, are “marital.”   (Unless an exception applies).  The same is true for liabilities.

So, in the case of marital assets and debts “title” does not really matter.  For example, a car that is titled to just one spouse, but which was purchased during the marriage,  would likely be marital.  Likewise, a credit card is in just one spouse’s name would likely be considered marital if the debt was acquired during the marriage.

There are exceptions to this rule of thumb.  For example if an asset was received by one spouse  as a gift or inheritance, then the asset is probably nonmarital (separate).

In some cases,  assets and liabilities can have a mixed characterization – partially marital and partially nonmarital.  For example, a retirement account may have a mixed characterization, if some of the retirement benefits were earned prior to the marriage, and and if some of the benefits were earned during the marriage.

*  The characterization of assets and debts can be the subject of major disputes in Florida divorce cases.  Before agreeing to any division of assets and debts in a divorce case, you should consult with a lawyer to make sure that the characterizations are correct, and that no exception might apply to your specific situation.

If you would like to research how Florida family law defines marital and nonmarital by statute, I have provided a link to Section 61.075, Florida Statutes.

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