Ask a Miami divorce lawyer: Timeline for determining marital assets

In order to establish the equitable distribution of assets and liabilities between two parties during a divorce – as is the favored custom under Florida law – the court must first be informed of the property, accounts and other items to be divided. As this is a complex and time-consuming process, it is in your best interest to enlist a Miami divorce lawyer to help you establish your marital and nonmarital assets, ensuring that you adhere to the timeline put in place by the court.

According to state statute 61.075, both parties will have a set amount of time to categorize their holdings as marital (and therefore divisible) and nonmarital. The law governing this process reads as follows:

“The cut-off date for determining assets and liabilities to be identified or classified as marital assets and liabilities is the earliest of the date the parties enter into a valid separation agreement, such other date as may be expressly established by such agreement or the date of the filing of a petition for dissolution of marriage.”

Once these categories have been established, the court will then set a date – or dates – by which the value of these assets must be calculated. A Miami divorce attorney can guide you through this process to ensure your records are accurate and completed within the designated time frame.

Navigating the complexities of a divorce proceeding can be exceedingly difficult for those who are unfamiliar with this area of the law – particularly when emotions are running high. But, by enlisting the help of an attentive and determined Miami lawyer, you can ensure that your best interests are accounted for. Scott A. Ferris, Esq. is a Miami family attorney with more than 25 years of experience, and is on hand to help his clients whenever they need him. Call him at 305-670-3330 to discuss your case.