What Happens When You Mingle Separate Property With Marital Property?
In the beginning of a relationship you aren’t likely to put your name on the inside cover of all your books, or make a list of which dishes belong to who. As your relationship progresses, it is relationship leads to a walk down the aisle; it is a sure bet that your DVD collections will share shelf space. If your marriage ends in separation or divorce, what then do you do if you are unable to determine what property belonged to which person before the marriage?
When you file for divorce and have to figure out a plan for distribution of assets, keep in mind that in Florida the distribution is equitable. To make that distribution easier when trying to classify assets as either separate or marital, the following tips are useful:
● Maintain separate accounts: putting your money or other assets in an account solely in your name is strong evidence that the property is separate rather than marital.
● Title property in your name only: how your cars and home are title is an indication of your intent that the property remains separate and is not intended to be an asset of the marital estate.
These tips apply to property that you brought into the marriage as well as property you acquire during the marriage, but that you intend to keep as your separate property. When you have joint accounts with your spouse, be sure that the only assets in those accounts are assets you consider to be jointly owned. In this way you can avoid the confusion of figuring out the character of your property at divorce time.
For more information about property distribution, call a Stuart and Treasure Coast family law attorney with experience handling family law cases. The fee for your fist visit is a flat fee and we work with you for a cost effective result. Contact our office today to schedule an appointment.