Liquidating assets prior to divorce
As cited above, the valuation date is almost any date that the court sees fit.
This is a huge factor in a litigated Sarasota divorce, as the parties can each have their own experts providing not only the value of a business or piece of real property, but also the values across a specific date range.
During the marriage, the Wife spends some significant effort “fixing up” the house, which increases the value of the home.
While the home was all hers prior to the marriage, the introduction of that labor, assuming that it resulted in an increase in the market value of the house, has now made at least a portion of that house’s value marital.
This means that the wife’s house, which was otherwise not valued by the husband, is now suddenly of a high value, thusly providing the husband with a healthy amount of equity in the residence, in part due to market appreciation.
The legislature has given the court significant leeway when it comes to valuing these assets.
Florida Statute 61.075 discusses the identification of marital assets, and provides us with “cut off” dates for determining when an asset is marital and when it is non-marital.
During the marriage he makes no contributions to the account whatsoever, but lets it grow passively along with the market.Arguments for choosing one particular valuation date over another include marital contributions, one party’s dissipation or failure to maintain the asset, and just about any reasonable argument a Sarasota divorce lawyer can think of.The most important lesson in determining which assets and debts are marital vs.Because there was no marital contribution to this account, any increase in value belongs exclusively to the husband.
Had he contributed any money to this account during the marriage, the court would have the task of determining what amount of this account is marital in nature, and subject to division.
Assets and debts accumulated by either spouse during the marriage are, with certain exceptions, considered to be “marital”.