When is an Asset No Longer Marital?

An asset is real or personal property.  Many Orlando, Florida couples think if they have kept their accounts separate during their marriage they have no marital assets.  Couples who have been separated for a time before their divorce may also think they have assets that are non-marital.  In fact, any asset acquired during the marriage by either party is considered marital.  This includes gifts from one spouse to the other and property titled in only one spouse’s name.  Some property acquired prior to the marriage may also be considered marital if it was co-mingled with marital property or it increased in value due to the effort of either party during the marriage.

Assets, as well as liabilities become classified as non-marital as of the date the parties enter into a valid separation agreement, such other date as may be expressly established by such agreement, or the date of filing a Petition for the Dissolution of Marriage.  This can be a very important fact for some spouses.  An experienced Orlando divorce attorney can help you understand your rights concerning your assets.  For more information, please call our office today at (407) 835-9900 or visit our website at:

http://FamilyLawofOrlando.com