Should I Hire A Financial Adviser Before Filing For Divorce?
The decision of whether or not to hire a financial adviser before filing for divorce should be made by the client. Generally speaking, it is a good idea to hire a financial adviser if the parties have a lot of assets, such as several retirement accounts, annuities, or other income-producing accounts. Ideally, parties would hire a financial adviser only after the divorce has been filed and they have agreed to hire one together.
Should I Contact An Attorney If I Suspect My Spouse Is Going To File For Divorce?
If divorce is imminent, you should schedule a consultation with a knowledgeable attorney who can assess the situation, including how many assets you own, your income, and liabilities to your children. This will also give you the chance to ask any questions you may have, and gain confidence in moving forward with the case.
Can I Move Money To Other Accounts Or Give It To People I Trust Before I File For Divorce?
Any transfers made prior to filing for divorce will likely be shown in the documents that must be provided during mandatory disclosures in divorce. Spouses are allowed to remove half of the funds from joint accounts, but removing more than that will be frowned upon by the courts and could result in an unequal distribution being awarded in the other spouse’s favor. In some cases, the transfer of funds may be needed in order to protect the other party from dissipating assets, but after the divorce is filed, the funds should be put into another account and a full disclosure should be made.
Is There A Way To Avoid A Pre-Divorce Spending Spree By My Soon-To-Be Ex?
Once a divorce case has been filed, the judge assigned to the case will enter a standing order, which prohibits the parties from going on spending sprees. During the divorce, mandatory disclosures will reveal unnecessary spending by either party, and either party could plead for unequal distribution in their favor. For example, if one spouse took a wild vacation and spent lots of money by themselves just prior to filing for divorce, then the courts could order an unequal distribution to make up for the money that was spent by that spouse. However, the courts will not address similar incidents of spending that occurred during the marriage.
I’m In A Volatile Marriage And About To File For Divorce, And We Have Children That I Intend To Take With Me; What Is The Best Course Of Action Before I Actually File In Order To Give Myself The Best Chance Of Gaining Primary Custody Or Parenting Time?
If a spouse is in imminent fear of bodily harm or there has already been physical violence or a threat of physical violence, then that spouse can file for a domestic violence injunction for themselves and/or on behalf of their minor children. If the spouse can show a history or a pattern of imminent fear of bodily harm, then the courts will enter a temporary protection order against the offending spouse. This would require the offending spouse to stay at least 500 feet away from the marital home and children. It would also provide the spouse with time to file and prepare for divorce while ensuring the protection of their children from the abuser.
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