What Date Does The Court Use In Determining The Value Of Assets In A Florida Divorce?
Posted By Posted by Stann Givens on Feb 7, 2011 8:00am PST || Feb 7, 2011
The assets that are subject to being divided in a Florida divorce are those that exist at the time of the filing of the Petition for Dissolution of Marriage. What happens if those assets gain or lose value in the months between the beginning of the case and the time that the judge determines who gets what?
The best Tampa family law attorney will tell you that the court has some options in these situations. For example, suppose one of the main assets is stock in a particular company that is trade on the New York Stock Exchange. Suppose the value of that stock rises or falls dramatically between the time of the filing for divorce and the time the judge enters the order dividing the property. Thankfully, the court has the discretion under the Florida equitable distribution statute to value the property as of the time of the order rather than the date of the filing of the Petition. This keeps the division more fair than giving one of the spouses an asset that is worth too much or worth too little as compared to what the other spouse is receiving.
Bottom line - Consult your expert Florida family law attorney about the changing values in your assets and what your property division results should be.