Should a party hide assets from his or her spouse to gain an edge during a Florida divorce proceeding? The simple answer is “No”. Florida law requires that each spouse fully disclose assets and income so that the Florida Family Law Judge can effectuate a fair and just ruling based on the facts and evidence. If a party withholds information and these actions are later discovered by the other party or the Judge, agreements and Judgments can be overturned and there can be significant negative consequences to the party who withheld information and / or attempted to hide assets from the consideration of the other party and / or the Judge.
Under Florida Family Law Rule 12.285, each party must completely disclose his / her financial background to the other. Through a Florida divorce proceeding, assets and debts are divided into two separate categories: Marital and Non-Marital. Through an Agreement by the parties and / or an Order by the Florida Family Law Judge, the assets and liabilities are then divided or apportioned to each party based on a variety of factors including the length of the marriage, lifestyle during the marriage, income generation by each spouse, needs of each spouse, needs of the children and other factors.
Wood, Atter & Wolf, P.A., is a law firm based in Jacksonville and Ponte Vedra Beach Florida with family law attorneys who are trained and experienced to investigate the financial background of your spouse.