Posted by Nydia Streets of Streets Law in Florida Divorce
In Florida, assets acquired prior to marriage are considered non-marital assets. This means the assets are owned solely by one spouse rather than jointly by both. Unless the parties agree otherwise, it is usually an appealable issue if a court awards a non-marital asset to both spouses in a Florida divorce. This was an issue in the case Smoot v. Smoot, 1D2023-0698 (Fla. 1st DCA June 12, 2024).
In this divorce case, the evidence established that the former husband opened a certificate of deposit account ten years prior to the marriage, and he maintained sole control of this account during the marriage. Despite this, the trial court distributed the account as a marital asset. The former husband appealed.
The appellate court reversed on this issue, holding “There was no evidence of any circumstances that would transform this nonmarital asset into a marital asset. [. . .] Therefore, the trial court erred in classifying the account as marital property subject to equitable distribution. Under these circumstances, the final judgment is reversed to allow the trial court to remove this asset from the distribution schedule and adjust the schedule accordingly.”
Schedule your meeting with a Miami family law attorney to understand how the law may apply to the facts of your case.