On Behalf of Matthew Lane & Associates, P.A. | Jun 18, 2011 | Division Of Property And Assets
Division of Marital Property and Marital Assets – Classification of Marital Assets in Florida
Assets and liabilities not in existence on the date of filing, the date of separation, or the date of entry into a separation agreement should not be classified as marital assets. In Fortune v. Fortune, the Florida Court of Appeal stated that…
“Relevant to the facts of this case, ‘[t]he cut-off date for determining assets and liabilities to be identified or classified as marital assets and liabilities is…the date of the filing of a petition for dissolution of marriage.’ § 61.075(7), Fla. Stat. (2009). Assets and liabilities not in existence on that date should not be classified as marital. See Schmitz v. Schmitz, 950 So. 2d 462, 463 (Fla. 4th DCA 2007); Byers v. Byers, 910 So. 2d 336, 344-45 (Fla. 4th DCA 2005).”