Property Division in a Sarasota Divorce
When you divorce in Florida, everything you and your spouse acquired during the marriage is subject to division. That includes the house, retirement accounts, bank accounts, vehicles, businesses, investments, and debts. How that property gets divided can shape your financial life for decades.
Florida follows the principle of equitable distribution under Florida Statutes Section 61.075. A Sarasota property division attorney can help you understand what is marital, what is not, and how to fight for a fair split.
Equitable Distribution in Florida
Equitable does not mean equal. The court starts with a presumption that marital assets and debts should be divided 50/50, but either spouse can argue for a different distribution. The court considers factors including:
- Each spouse's contribution to the marriage, including homemaking and child-rearing
- The economic circumstances of each spouse at the time of divorce
- Whether either spouse intentionally wasted or destroyed marital assets
- The length of the marriage
- Each spouse's contributions to acquiring, improving, or maintaining marital property
- Whether either spouse used non-marital assets for marital purposes
Marital vs. Non-Marital Property
This is the most contested issue in property division. Marital property includes:
- Anything acquired during the marriage, regardless of whose name is on the title
- Enhancements in value of non-marital assets due to marital efforts or funds
- Retirement benefits and pensions earned during the marriage
- Income from marital assets
Non-marital property includes:
- Assets you owned before the marriage
- Assets received by inheritance or gift during the marriage (to you individually, not to both spouses)
- Assets excluded by a valid prenuptial or postnuptial agreement
The key issue is commingling. If you owned a house before the marriage but used marital funds to pay the mortgage, make improvements, or add your spouse's name to the deed, the house may be partially or fully marital. If you inherited money but deposited it into a joint account, it may lose its non-marital character.
Complex Assets
Business Interests
If either spouse owns a business, it must be valued. We work with forensic accountants and business valuation experts to determine the fair market value of closely held businesses, professional practices, and partnerships. The value of the business and any appreciation during the marriage may be subject to equitable distribution.
Retirement Accounts and Pensions
401(k)s, IRAs, pensions, and military retirement benefits earned during the marriage are marital property. Dividing these requires a Qualified Domestic Relations Order (QDRO) for employer-sponsored plans. We work with QDRO specialists to ensure the division is done correctly without triggering taxes or penalties.
Real Estate
The marital home is often the largest asset. Options include selling the house and splitting the proceeds, one spouse buying out the other's interest, or one spouse keeping the house in exchange for other assets. We help you evaluate which option makes the most financial sense.
Stock Options and Restricted Stock
Stock options and restricted stock units (RSUs) granted during the marriage may be marital property, even if they have not vested. Valuing these assets requires careful analysis of grant dates, vesting schedules, and tax implications.
Dividing Debts
Debts are divided the same way as assets. Marital debts include credit cards, mortgages, car loans, student loans taken out during the marriage, and tax liabilities. The court assigns each spouse responsibility for specific debts, but creditors are not bound by divorce decrees. If your ex defaults on a joint debt, the creditor can still come after you. We help structure settlements to protect you from this risk.
Hidden Assets
Some spouses try to hide assets before or during a divorce. Common tactics include transferring money to family members, undervaluing businesses, claiming fictitious debts, or delaying income. We use discovery tools including subpoenas, depositions, and forensic accounting to uncover hidden assets and ensure a full and fair disclosure.
Frequently Asked Questions
Is Florida a 50/50 property division state?
Florida starts with a presumption of 50/50 but the court can deviate from equal distribution based on factors like each spouse's contributions, economic circumstances, and whether either spouse wasted marital assets. The goal is equity, not strict equality.
Do I get half of my spouse's retirement account?
You are entitled to a share of the portion of the retirement account that was earned during the marriage. If your spouse had the account before the marriage, the pre-marriage balance is non-marital. The marital portion is divided equitably, and a QDRO is required for employer-sponsored plans.
What happens to the house in a Sarasota divorce?
You can sell the house and split the proceeds, one spouse can buy out the other, or one spouse can keep the house in exchange for other assets. The right choice depends on the equity in the home, each spouse's ability to afford the mortgage, and whether children are involved.
What if my spouse is hiding assets?
Your attorney can use the legal discovery process to demand financial records, take depositions, and subpoena documents. Forensic accountants can trace transactions and identify hidden accounts. If a spouse is caught hiding assets, the court can penalize them.
Are debts divided the same way as assets?
Yes. Marital debts are divided equitably, but the divorce decree does not bind creditors. If your ex defaults on a joint debt, the creditor can still pursue you. We help structure settlements to minimize this risk.
Speak With a Sarasota Property Division Attorney
If you are facing a divorce with significant assets, you need an attorney who understands complex property division. Call us at (941) 893-1555 or schedule a free consultation.