Look, Florida (and Other States): New York Legislates Automatic Protection of Marital Assets During Divorce Case

New York has passed a law that Florida and other states might do well to consider modeling.

The New York statute, in effect, prohibits either spouse from moving monies or other marital assets without court order or written consent of the other spouse. (Except for usual business or household expenses and divorce attorney fees, of course.)

In Florida, things currently work exactly the opposite way. (Except in certain counties that automatically impose a restraint along the lines of the New York statute.)

In most of Florida (including Broward and Palm Beach counties) today, if either spouse wants the court to restrain the other from transferring marital assets, the spouse seeking the restraint must go to court – to try to persuade the court to do it.

The New York legislation saves both spouses litigation expenses, unclogs the courts a bit and preserves the marital assets (or estate) from the get-go of the divorce case.

The new New York law has another feature: it prohibits either spouse from dropping the other spouse or a child from life insurance or medical insurance coverage.

Right now, Florida divorce law presently offers no such protection. A spouse seeking such protection must go to court to try to persuade the court to order it.

New York’s new legislative policy certainly sounds on the mark. Yet the champion of the New York legislation had to work for over a decade to get it passed. …

Read more in this New York City Gotham Gazette article: New Law Protects Assets During Divorce.