In the state of Florida, there’s no separation time period, so that is not applicable. During the time that spouses have separated and are living apart but have not filed for divorce, the assets and liabilities they accrue are considered marital. The courts will look at the date of filing to determine the marital assets and liabilities. For example, if spouses have been living separately for one year before filing the divorce, the courts will look at each party’s financial accounts and information at the time of the filing—not at the time of the separation a year prior. Unfortunately, all assets and liabilities accrued during the one-year separation may be subject to equitable distribution. For this reason, it behooves people to contact an attorney and file when they have separated.
In some cases, the courts can do an unequal distribution to create equity between the parties. However, the easiest way to determine what was in the bank account at the date of filing is to look at the accounts on the date of filing. It’s important that once the parties have separated in the state of Florida, they contact an attorney who can explain to them their rights, and help them determine the wisest steps during the pendency of divorce.