Gavel Insight

Understanding the Basics: Dividing Pensions and Retirement Accounts in Florida Divorce 🏛️ Dividing assets during a divorce can be one of the most complex and contentious aspects of the process, especially when it involves pensions and retirement accounts. In Florida, these assets are often considered marital property, subject to equitable distribution. This means they must be divided fairly, though not necessarily equally, between the divorcing parties. What Constitutes Marital Property? 💼 Florida law defines marital property as assets acquired by either party during the marriage. This includes earnings, investments, and any appreciation in value of assets acquired during the marriage, regardless of whose name is on the account. Pensions, 401(k)s, IRAs, and other retirement accounts accumulated during the marriage are generally considered marital assets. 🕒 The valuation date for marital assets is typically the date the divorce petition is filed. This is a critica...

Introduction: Navigating Shared Asset Valuation in Florida Divorce Cases Divorce is a challenging life event, and in Florida, dividing shared assets can be one of the most complex and contentious aspects. Fairly valuing these assets is crucial for equitable distribution. This guide provides Florida-specific strategies and insights to help you understand the asset valuation process during a divorce. Understanding Florida's Equitable Distribution Laws ⚖️ Florida operates under the principle of "equitable distribution," which doesn't always mean a 50/50 split. Instead, marital assets and liabilities are divided fairly, considering various factors. To achieve this fair division, accurate asset valuation is paramount. Marital assets are generally defined as those acquired during the marriage, regardless of whose name is on the title. Separate assets are assets acquired before marriage or received during marriage as a gift or inheritance that was kept separate...