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Is the 401(k) account marital property?

As many who have gone through the divorce process in Florida can attest to, divvying up marital assets is a difficult and complex task. Not only are couples separating their emotions from one another but also their marital property and this can end up being a painful process. In addition to this, there is often confusion between the couple as to who will receive what when property is divided. Even where the divorce is amicable it may be beneficial to consult an experienced attorney to know what one is entitled to and ensure that they get their due.

Some of the assets couples may not know they are entitled to is the 401(k) and stock options. Many believe that since they were acquired during the course of one spouse's employment, they will not be separated during the marriage. However, this is not the case as property is divided on the basis of property accumulated during or before the marriage.

Separate property, that which is not divided, is property owned by either spouse before the marriage, gifts or inheritance received by either spouse or property that was already separated in a premarital or post nuptial agreement. Other than this, everything can be separated between the couple during a divorce, even including homes or vehicles in one spouse's name.

Unfortunately, sometimes communication between a couple can deteriorate to the extent that they are not willing to disclose whether they have assets or not and what their value is. In this situation, it may be beneficial to consult someone experienced with asset division to help in resolving a dispute.

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