Equitable Distribution

Generally, no. In Florida, the classification of an asset as marital or non-marital is determined by how and when it was acquired, not by whose name appears on the title. An asset acquired during the marriage is a marital asset subject to equitable distribution regardless of how it is titled. The treatment of assets owned before the marriage, or received as a gift or inheritance, depends on how those assets were handled during the marriage, including whether they were commingled with marital funds or otherwise treated in a way that affects their character. The distinction between marital and non-marital property is governed by Florida Statute Section 61.075.

The marital home is a marital asset subject to equitable distribution under Florida Statute Section 61.075. If the home was owned by one spouse before the marriage, it may retain a non-marital component, but any increase in value or reduction in the mortgage balance attributable to marital funds or efforts during the marriage may be subject to distribution under Florida Statute Section 61.075. In most cases, the parties either agree to sell the home and divide the proceeds, or one spouse buys out the other's interest and refinances the mortgage in their name alone. Where minor children are involved, the court may also consider whether it is in the children's best interests to remain in the home, which can affect how and when the property is addressed. If the parties cannot agree, the court has authority to order the sale of the home and direct how the proceeds are distributed. The existence of a mortgage, negative equity, or disputed contributions to the property can all affect how the home is ultimately handled.

When a closely held business is a marital asset or has a marital component, its value must be determined as part of the equitable distribution process under Florida Statute Section 61.075. Business valuation is a complex analysis that requires the retention of a qualified expert, such as a forensic CPA or certified business valuator, who will examine the business's financials, income, assets, liabilities, and goodwill to arrive at a supportable value. How the business is ultimately treated in the distribution depends on its value, whether it has a non-marital component, and the overall equities of the case.