Protecting Finances

pk2at · 2023-12-11T16:48:50+00:00

Once you file, the judge is supposed to automatically issue a temporary financial restraining order preventing dissipation of assets. However as with everything in family court, there is no enforcement mechanism and either spouse can freely spend the asset in their control. If you don't like that spending, you have to raise a separate case in court

VintageTool · 2023-12-11T18:44:03+00:00

Have your salary/income deposited into a bank account opened just after filing so it’s clear what is separate income. Get a copy of every single financial statement for the balances on the day you file, even if you need to screenshot it. Place alerts on accounts to track and notify of spending, if you are worried they will go hog wild.

Royal_Win5362 · 2023-12-19T21:19:37+00:00

Open a new bank account to receive all the paychecks/deposits from your income. That's considered asset you separately accumulated after "stopping the clock"(filing). There's a tool that you can do financial discovery and monitor expenses in joint account (aka detect if there's any wasteful spending).

SkeptiCynical · 2023-12-11T11:23:59+00:00

The divorce agreement or separation agreement (which did you file?) should include language warning you both against "wasteful dissipation". For instance, if you need a car, you have to buy a car. If you need to withdraw cash as part of normal routine, you can do the same.

If you engage in unusual or conspicuously wasteful spending, this will come out in the financial statements you have to file. Wiping out marital assets in anticipation of divorce will not go unnoticed before you first hearing.

Title	Protecting Finances
Author	SummerRound
Upvotes	3
Comments	5
Date	December 11, 2023 4:53 AM UTC (2 years ago)
Subreddit	Posted in /r/Divorce_Men
Original Link	https://old.reddit.com/r/Divorce_Men/comments/18fmn9x/protecting_finances/
Archive Link	https://theredarchive.com/r/Divorce_Men/protecting-finances.1240474 https://theredarchive.com/post/1240474

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