QUESTION
Will I be punished legally in a divorce for bringing more financial resources into a relationship?
Asked on Jul 18th, 2015 on Family Law - Florida
More details to this question:
I am currently in a same sex marriage in Florida. We were officially married in January 2015, but had a ceremony in 2007. We have lived together since 2005 and combined finances as soon as we moved in with each other. I am contemplating a divorce. As we were moving in together I was the individual who financially supported us via inheretence and personal savings while we looked for jobs. It lasted for about 6 months. Second, everything we own and owe in debt is under my name. I have around $60,000 in debt and some is located in collections from credit cards and other is 2 auto loans which we are always on time paying, other credit cards which we are paying on time, and current student loans since I am attending graduate school. My husband was diagnosed with a terminal illness in 2008, which is the main reason for items to be in collections. I have plans to start a business after school. I lose sleep over this every night. Am I responsible for paying all debt if we divorce? Any advice?
1 ANSWER
The division of the financial accounts (assets/liabilities) is very fact specific. So it is somewhat difficult to give you a full answer in this forum. However, the general rules are as follows:
1. Date of marriage is the "start" date for considering what assets/liabilities are marital.
2.If assets/liabilities are acquired "during the marriage" it does not matter how they are titled (joint or individual), they are considered marital assets subject to 50/50 division.
3.Parties can structure their divorce settlement however they like (meaning you do not have to follow the "rules" above if both parties agree)
See below equitable distribution statute, that might be helpful.
http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.075.html
I believe in your situation, it would helpful to consult an attorney.
Best of Luck,
Helena Y. Farber, Esq. ~Associate Attorney~
Law Office of Cindy S. Vova, P.A.
www.vovalaw.com
Answered on Jul 20th, 2015 at 6:42 AM