Community Property Agreement In Washington State In Florida
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FAQ
Florida is not a community property state. Florida is an equitable distribution state. In Florida, assets and debts acquired during the marriage are considered marital property, subject to division based on fairness.
In Washington, real property conveyed to a married person or a person in a registered domestic partnership is legally presumed to be community property. Exceptions to the rule include properties acquired as separate property by gift, bequest or by agreement (see Sole Ownership example 2 above).
There are very few states that fall under the community property rules, and Florida is not one of them.
If you are married, you may give your one-half interest in community property through your will. If you die intestate and are survived by a spouse or partner, your entire one-half interest in community property will pass to your surviving spouse or partner.
There are very few states that fall under the community property rules, and Florida is not one of them. That means that Florida will try to find the way to most fairly divide the property among spouses who are getting a divorce.
Is Florida a 50/50 divorce state? No, it's an equitable distribution state, which means couples split up their marital assets in a way deemed fair by the presiding court. The division may or may not be 50/50.
Washington's marital property laws recognize the concept of "community property," in which almost all property acquired during a marriage is presumed to be jointly owned by the spouses and therefore subject to equal division upon divorce.
When you live in a community property state and file separate returns, you each must report 50 percent of your spouse's income and half of income generated by community assets, plus all of your separate income. The IRS has an allocation worksheet to simplify your calculations in Publication 555 Community Property.
The answer is clear: No. Florida is not a community property state. Florida is an equitable distribution state. In Florida, assets and debts acquired during the marriage are considered marital property, subject to division based on fairness.
