What are marital assets?

In Florida, “marital assets” refer to any property or financial interest acquired by either spouse during the course of the marriage, regardless of whose name is on the title or account. This includes income, investments, retirement accounts, vehicles, real estate, and business interests acquired while the couple was married. Assets owned by one spouse before the marriage or inherited separately may not be considered marital—unless they were commingled with shared marital property.

For an uncontested divorce, both spouses must come to a mutual agreement on how these assets will be divided. Once you’ve both reached an understanding, the terms are written into a Marital Settlement Agreement, which is submitted to the court for approval. As long as the judge finds the division fair and both parties have voluntarily agreed, the court will honor the agreement without requiring a court appearance.

Liquid assets in a Florida divorce

Liquid assets are those that can easily be converted to cash. These include checking and savings accounts, cash, investment portfolios, mutual funds, and publicly traded stocks. In Florida, spouses must disclose these accounts and agree on how they will be split. Even if an account is only in one spouse’s name, if the funds were earned or deposited during the marriage, it may be considered a marital asset.

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In an uncontested divorce, you and your spouse can divide your liquid assets in any way you mutually agree upon. Some couples opt for a 50/50 division, while others adjust the division based on income disparities, financial need, or in exchange for other property. The flexibility of an uncontested divorce allows for creativity and cooperation—something that often reduces emotional and financial stress.

Non-liquid assets: property, retirement, and crypto

Non-liquid assets are those that are not easily converted into cash. This includes physical property such as homes, land, vehicles, and furniture, as well as financial interests like retirement plans, pensions, business holdings, and cryptocurrency. These can be more complicated to divide and may require further documentation to finalize the transfer of ownership.

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In Florida, retirement accounts accumulated during the marriage are considered marital property, even if only one spouse's name is on the account. If you're dividing a 401(k), pension, or similar plan, a court order called a Qualified Domestic Relations Order (QDRO) is often required to legally split the account without tax penalties.

It’s important to note that our service does not assist with preparing QDROs, so you may need to hire a separate attorney or financial professional if your divorce involves this step.

Cryptocurrency has also become a notable asset in many Florida divorces. Even though it's a digital currency, it is treated just like any other property. If one or both spouses own cryptocurrency that was acquired during the marriage, it must be disclosed and fairly divided. Due to its volatile nature, both parties should carefully assess its current value and agree on its division or offset it with other property of equivalent value.

How does Florida’s Equitable Distribution work?

Unlike community property states, Florida courts don't automatically divide everything 50/50. Instead, equitable distribution means the court looks at what is fair based on various factors, such as the duration of the marriage, the economic circumstances of each spouse, contributions to the marriage (including homemaking and childcare), and the desirability of keeping certain assets—like the family home—intact for the sake of the children.

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In uncontested divorces, you don’t have to wait for a judge to make these determinations. You and your spouse can negotiate the terms together. As long as the final agreement is reasonable and doesn't appear to take advantage of one spouse, the court will approve it.

Do you have to list all your assets?

Yes. Transparency is crucial in any Florida divorce. Even in an uncontested case, both parties are required to complete a Financial Affidavit disclosing their income, expenses, assets, and liabilities. Failing to fully disclose assets—even if by accident—can delay your divorce or result in future legal challenges. It is always better to over-disclose than to leave anything out.

Summary

In summary, Florida law requires divorcing spouses to address all marital assets before their case can be finalized, even in uncontested divorces. Liquid assets such as bank accounts and investments must be disclosed and divided by agreement. Non-liquid assets, including retirement accounts and property, can also be split, although some—like retirement funds—may require additional legal steps. Florida’s equitable distribution principle offers flexibility, and uncontested divorce gives couples the freedom to make personalized agreements that reflect their unique situation.

If your case involves dividing complex assets, such as business interests or retirement funds that need a QDRO, you may wish to consult with a financial advisor or family law attorney. Otherwise, our service can help you draft the appropriate documentation and finalize your divorce without needing to appear in court.