According to FS 61.075(7), the cut-off date for determining marital assets and liabilities is the date of filing, unless there is a written agreement otherwise. So, if you are concerned that your spouse may acquire debt for which you will become liable, filing the petition will establish the date where that cannot happen. All assets and liabilities acquired after the cut-off date will be considered non-marital for divorce purposes.
But be warned: the creditor, whose money has been borrowed, will still consider after-acquired debts to be the liability of the account holder. In the divorce, the court can order one spouse to be ultimately liable for a debt, but the creditor will come after the account holder for payment, regardless of the court’s ruling. That is why it is essential to ze creditor accounts when your spouse has access to those accounts. If that cannot be accomplished in time, to preserve your credit you will be placed in a situation where you will want to assume the debt while getting some credit elsewhere.
Remember these three situations are financially equal: 1) All assets are sold and used to pay off all the debts, with the remaining balance equally divided; 2) All assets and all debts are awarded to one spouse, and that spouse pays to the other ½ of the net value of the assets minus the debt; 3) Each spouse takes some assets and some debts, the total of each’s net worth being equal. In all of the above examples we are dividing the marital assets and debts, but any debt acquired after the date of filing will be left out of the equation and awarded to the spouse that acquired it.