High Net-Worth Divorce and Commingled Assets in Orlando
Orlando is a city full of successful professionals, business owners, and individuals who have worked hard to build their financial security. However, when a marriage ends, dividing assets can become complex, particularly when commingled property is involved. As an Orlando high net-worth divorce Attorney, I help clients on both sides of this issue—those seeking to protect their assets and those fighting for their fair share.
I’m Beryl Thompson-McClary, and I handle high-asset divorce cases throughout Orange County, Florida. If commingled assets are a concern in your divorce, you need an attorney who understands how Florida courts classify, trace, and divide marital and non-marital property. Call me at 1-888-640-2999 to schedule a consultation and discuss your legal options.
What Are Commingled Assets?
In Florida, commingled assets are those that were originally separate (non-marital) but became mixed with marital funds during the marriage. Commingling often occurs when:
- A spouse deposits separate funds into a joint bank account.
- One spouse contributes personal funds to improve a jointly owned property.
- A business owned before the marriage grows due to both spouses’ efforts.
- Inherited or gifted assets become mixed with marital funds.
Florida law distinguishes between marital and non-marital assets, but commingling can blur those lines, making asset division more complex.
Florida Law on Commingled Assets in Divorce
Under Florida Statutes §61.075, courts follow equitable distribution, which means assets are divided fairly but not always equally. The court will determine whether an asset remains separate or has become marital property due to commingling. Factors that influence this decision include:
- The extent of commingling: If separate funds were repeatedly deposited into a joint account, the asset may be considered marital.
- The ability to trace separate funds: If records can prove the original source of an asset, it may retain its non-marital classification.
- The intent of the spouses: If one spouse gifted or transferred property to the other, it may be classified as marital.
Each case is unique, and proper legal representation is crucial to ensuring a fair division of assets.
Protecting Non-Marital Assets from Commingling
If you want to protect your separate property from becoming marital property, consider these steps:
- Keep Inherited and Pre-Marital Assets Separate: Maintain separate accounts and avoid mixing funds with marital assets.
- Use Prenuptial or Postnuptial Agreements: Clearly outline asset ownership and how property should be divided in case of divorce.
- Maintain Detailed Financial Records: Document where funds originated, how they were used, and whether they were intended as a marital asset.
- Be Cautious With Business Growth: If your business was started before marriage but benefited from marital efforts, it could become a marital asset.
If you suspect commingling has already occurred, I can work with financial experts to trace the source of assets and build a case for their proper classification.
What If You Are Seeking a Share of Commingled Assets?
If your spouse is trying to claim assets as separate property, but those assets were mixed with marital funds or benefited from the marriage, you may have a right to a portion of them. Courts look at:
- Whether marital funds or efforts contributed to the asset’s increase in value.
- Whether both spouses used or benefited from the asset during the marriage.
- Whether a spouse transferred or gifted the asset to the marital estate.
I represent spouses seeking their fair share in high net-worth divorce cases and work to ensure they are not left at a financial disadvantage.
How Florida Courts Handle Specific Commingled Assets
Commingled Bank Accounts
If one spouse deposits non-marital funds into a joint account and the funds are used for household expenses, the court may classify the entire account as marital property. If the original funds can be traced, a portion may be preserved as separate property.
Real Estate Purchased Before Marriage
A home owned by one spouse before marriage may become a marital asset if both spouses contribute to the mortgage, renovations, or maintenance. If the home appreciates due to marital efforts, the increase in value may be considered marital property.
Businesses Started Before Marriage
A business founded before marriage is usually separate property, but if the non-owner spouse contributed financially or worked in the business, they may have a claim to part of its increased value.
Retirement Accounts
Funds contributed to retirement accounts before marriage are typically separate property, but any contributions made during the marriage are subject to equitable distribution.
FAQs About Commingled Assets in Florida Divorce Cases
How can I prove that my separate property should not be divided in the divorce?
The best way to prove an asset is separate is by maintaining detailed financial records showing when and how the asset was acquired. Bank statements, property deeds, business records, and inheritance documents can all serve as evidence.
What happens if my spouse and I disagree on whether an asset is commingled?
If there is a dispute over whether an asset is commingled, the court will consider financial records, expert testimony, and the circumstances surrounding the asset’s use during the marriage. A forensic accountant may be needed to trace the funds.
Can I claim a portion of my spouse’s business if I contributed to its success?
Yes. If you worked in the business, made financial contributions, or helped it grow, the court may consider a portion of the business value as marital property, entitling you to a share in the divorce settlement.
Are gifts between spouses considered commingled assets?
Yes. If one spouse gifts an asset to the other or transfers property into joint ownership, Florida law often considers this a marital asset subject to division in divorce.
How does a prenuptial agreement affect commingled assets?
A well-drafted prenuptial agreement can prevent commingling by clearly stating which assets remain separate property, even if they are used during the marriage. Courts generally uphold these agreements unless they are found to be unfair or improperly executed.
What happens if I used separate funds to improve our marital home?
If you used separate funds to renovate or improve a jointly owned home, you might be entitled to reimbursement or credit for the contribution during the divorce settlement.
Can commingled assets affect alimony determinations?
Yes. The classification of assets can impact spousal support awards, especially if one spouse significantly benefited from marital assets that were originally separate.
Contact Orlando Attorney Beryl Thompson-McClary at 1-888-640-2999 For A Consultation
If you are dealing with commingled assets in a high net-worth divorce, you need strong legal representation to ensure your financial interests are protected. Whether you are trying to preserve separate property or claim a share of marital assets, I can help. Call me at 1-888-640-2999 to schedule a consultation and discuss the best legal strategy for your case.
Beryl Thompson-McClary
Address: 390 N Orange Ave #2300, Orlando, FL 32801, United States
Hours: Open
Phone: 1-888-640-2999
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