Examples of Common Separate Assets in Orlando Divorces

A key concern for many divorcing spouses in Florida is property division. As you learn more about equitable distribution, you may become aware that there are two types of property to consider in this situation: Separate assets and marital assets. You might also learn that separate assets are non-divisible. In other words, you don’t have to split these assets with your ex. An obvious first step is to take an inventory of your separate assets and clearly identify them. What are some common examples of separate assets in an Orlando divorce?

Stocks 

Many individuals invest in stocks before signing their marriage contracts. This is especially common among high-net-worth, high-earning individuals. While the average individual may live paycheck-to-paycheck, higher-earning workers generally have excess cash to invest. If made before marriage, your investments remain your separate property after divorce. That being said, any appreciation that occurs during your marriage may count as “marital property.” To learn more about this complex situation, speak with a divorce lawyer in Orlando.

 Rental Properties 

If you purchased real estate prior to your marriage, this type of investment also remains yours after a divorce. A particularly common type of real estate investment is a rental property. Once again, this applies more to high-earning, high-net-worth individuals. Any appreciation in value may also count as marital property. However, income generated from a separate rental property remains “separate” and 100% yours – even if you receive it during your marriage.

 Vehicles 

Another common example of a separate asset is a vehicle. You may have purchased your vehicle prior to the marriage. Divorce should not affect your ownership of your vehicle, unless you specifically agree to hand over the asset in exchange for something else during mediation negotiations.

 Pets 

Pets represent a surprisingly common source of conflict among spouses during divorces. However, this should not be an issue if you owned the pet prior to your marriage. If you took ownership of the animal before “tying the knot,” you get to keep it after a divorce. Although many states are creating new “pet custody” laws, Florida views these animals in the same way as any other asset.

 Inheritance 

Last but certainly not least, your inheritance remains yours regardless of when you received it. This makes it somewhat unique in property division discussions. Even if you received inheritance during your marriage, your ex has no claim to it. You should fight to keep your inheritance, even if it has become accidentally “commingled” with marital funds.

Find an Experienced Divorce Lawyer in Orlando 

If you’ve been searching for an experienced divorce lawyer in Orlando, look no further than Steve Marsee, P.A. Over the years, we have helped numerous divorcing spouses understand the property division process. We can also help you keep hold of your separate assets with confidence. While taking an inventory of these assets is one thing, your ex may argue that these are actually marital assets. To learn more about separate property and the equitable distribution process, book a consultation today.

Source:

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