Equitable Distribution Expert Tampa – Gary Dolgin Discusses The Clear Identification of Nonmarital Assets and Ownership Interests

In Florida, the division of assets and liabilities during a divorce follows the principle of equitable distribution. This means that all marital property and debts are divided fairly between the spouses.

The distribution of all marital assets and marital liabilities, whether equal or unequal, shall include specific written findings of fact as to:

(a) Clear identification of nonmarital assets and ownership interests.

In other words, assets and interests that belong solely to one spouse must be precisely and accurately distinguished because they are not subject to division in a divorce.

These nonmarital assets typically include:

– Property Owned Before Marriage ➡ These are assets one spouse owned before getting married.

-Inheritances ➡ Assets one spouse inherited, regardless of whether they were received before or during the marriage.

– Gifts ➡ Assets given to one spouse individually by a third party.

– Agreements ➡ Assets specified as nonmarital in a prenuptial or postnuptial agreement.

– Exclusions ➡ Assets excluded from marital property by mutual consent of the spouses.

Clear identification ensures these assets are recognized and protected during the division process in a divorce, preventing them from being wrongly classified as marital property.

If you’re going through a divorce, it’s crucial to understand your rights and the factors that influence asset and liability division. Seeking guidance from a knowledgeable attorney can ensure a fair outcome.

If you are considering divorce and have questions about equitable distribution, we can help you here at The Law Offices of Gary S. Dolgin.

With over 33 years in practice, Board Certified Expert in Marital and Family Law, Gary Dolgin is an experienced and knowledgeable divorce attorney in Tampa who can represent your best interests.

To schedule a consultation with Gary S. Dolgin, Attorney At Law, call (813) 999-2772 and it will be our pleasure to help you.

To see what past clients have to say about retaining Gary Dolgin to represent them during their divorce, and to learn more about divorce, visit:
Equitable Distribution Expert Tampa – Gary S. Dolgin