Appropriate division of property and assets in Florida divorce proceedings was recently explained by the Florida Court of Appeal in a case captioned Jackson v. Blazer. In reaching its decision in this division of property and assets matter, the Court turned to the statutory definitions of marital and nonmarital property in the State of Florida. In Florida, marital property includes: (i) assets obtained and liabilities incurred during the course of the marriage; (ii) the increase in the value of nonmarital assets that result from either party's efforts during the course of the marriage or from the use of marital funds; (iii) the reduction in the principal of any mortgages secured by real property that are nonmarital, and part of any passive appreciation in properties if the mortgages are reduced with marital funds; (iv) gifts that the parties give to each other during the marriage; (v) retirement benefits, annuities, insurance, deferred compensation, and pension and profit-sharing rights obtained during the course of the marriage; and (iv) property held by the husband and wife as tenants by the entireties is presumed to be a marital. This presumption is rebuttable.
