The state of Florida uses a concept called equitable distribution, or equitable division, in the process of determining who gets what during a divorce. This equitable distribution concept does not necessarily mean that each of the divorcing parties will receive the same distribution; they don’t necessarily split all marital assets 50/50. Most notably, property which was brought into a marriage, so long as it can be determined as such by the courts, may be the retained by the respective spouse who was its original owner. However, many people wonder what happens to property which is inherited during the marriage.
The best case scenario for determining the distribution of any assets in a divorce, including inherited property, is for the divorcing parties and their attorneys to hash out a fair division the assets. However, in the case that this kind of agreement cannot be reached, the courts will likely become involved. When reviewing inherited property Florida courts, which decide all Orlando divorces, will attempt to determine the most equitable distribution of such properties.
Florida state judges use a variety of factors to determine equitable distribution, and many of these factors would come into play when determining the equitable distribution of inherited property. Judges will likely look at such factors as how long before the divorce filing the property was inherited, whether the inherited property or funds were commingled with the couple’s other properties or funds, and whether or not the inherited funds were ever used as collateral for common debts.
If you are seeking a divorce in Orlando, a divorce in which inherited property may be contested, it is best not to go it alone. Contact a qualified attorney in Orlando to get the best assistance and advice relating to equitably dividing funds which were inherited during your marriage.