Every spouse reacts differently to an impending divorce. Some people panic, possibly due to concerns about their finances. They may close accounts or try to move property to ensure they have resources during the divorce.
Others may make strategic financial moves intended to protect themselves or penalize their spouses. People sometimes sell marital property for far less than the fair market value or give away shared assets. Their goal may be to diminish the marital estate and therefore reduce how much their spouse receives in the property division process.
Homeowners and others with valuable resources, ranging from paid-off vehicles to well-funded retirement accounts, may worry about their spouses selling property and unfairly altering the property division process.
Do spouses in the early stages of divorce need to worry about the unauthorized sale of critical marital resources?
The courts typically prevent questionable property transfers
Financial misconduct in the early stages of divorce is a well-known complicating factor that can make it more difficult to fairly divide the marital estate. It is common for judges to issue temporary restraining orders at the beginning of a divorce. These restraining orders do not prevent contact between the spouses, like protective orders issued in cases involving stalking or domestic violence.
Instead, they prohibit either spouse from selling or otherwise damaging marital resources. It is also standard for the courts to prohibit the removal of minor children from the state while a divorce is in progress. The temporary orders prohibiting the sale or transfer of marital assets help preserve resources until the courts rule on property division issues. People may be unable to access joint lines of credit or make major financial transfers without the permission of the courts or their spouses.
Creating an inventory of marital property and learning more about divorce proceedings can help people preserve their resources and make use of the systems in place for their protection. Financial misconduct during divorce is common, so the courts are proactive about preventing inappropriate sales and transfers.
Spouses who understand the law, and who know what to expect during divorce, can more effectively protect their resources until the courts approve a final property division order.
