Q: If a property in FL is purchased in marriage and titled in my name ONLY, will it be divided 50/50 in case of divorce?
I purchased a condo in VA two years ago when I was single. Last year I got married. We are thinking about moving to FL. The plan is to sell my condo and buy a similar property in FL. The property in FL will be in my name (my spouse has premarital property at another state). If we get divorced later, will the FL property be divided 50/50? If we don't get divorced, will my spouse's adult children be entitled to any portion of the FL property after we pass away? I want my daughter to inherit this property. Thank you.
A: If you do not get a prenuptial or postnuptial agreement in place then your spouse will have substantial rights to any marital property in a divorce or in a probate, this is especially so as it relates to Homestead Property in the State of Florida. Any assets you want to keep separate you must always keep separate and not use marital assets towards it (as you can imagine this is difficult to say the least). You may be able to accomplish what you want with properly drafted deeds and or estate planning (will and or trust), keep in mind, Florida is very protective of surviving spouse rights and Wills and Trusts can be overcome if the spouse is not properly addressed and taken care of and no prenuptial agreement or similar is in place. Parents have no obligation to leave any assets to adult children and therefore the estate plan can be drafted in any manner that you like in that regard. You really need to speak with a Florida Estate Planning Attorney as this forum is limited in its ability to direct and is only good for general guidance and responses, what you really need is an entire estate plan and review for your circumstances.
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