You are facing a divorce, and that is certainly difficult enough. One of the most complicated components of divorce is the division of your marital property. If, however, your soon-to-be ex is squandering your marital assets in the lead-up to your divorce, it can take your financial woes to the next level. If this is the situation you find yourself in, do not wait to consult with an experienced McLennan County divorce attorney.
If You Have Your Suspicions
You are heading into divorce, and you can cut the stress in your life with a knife. If – on top of everything else – you believe your spouse is out there spending down your assets, you may feel at an utter loss. This is a situation when it pays to take action early – in an attempt to limit the financial damage done – and your best option may be filing an Automatic Temporary Restraining Order (ATRO).
Your Automatic Temporary Restraining Order
An ATRO will not completely freeze your marital assets, but it will significantly curtail your divorcing spouse’s options. In addition to spending down your assets, your divorcing spouse may take it upon himself or herself to hide, give away, or otherwise dispose of assets in an attempt to prevent you from receiving your rightful share in the divorce. The court recognizes that this is playing dirty, and an ATRO is one important means of addressing the matter.
The Protections Involved
An ATRO can curtail your divorcing spouse’s ability to make specific financial moves, including all of the following:
- Selling marital assets
- Lavishly spending marital funds
- Withdrawing fund from marital accounts
- Transferring funds or other assets into someone else’s name or into a secret account
- Taking on extravagant debt (How Is Debt Divided in a Texas Divorce?)
- Gaining entry to a safe deposit box containing marital assets
- Denying you the financial information you need
- Destroying financial records outright
- Cutting off your access to marital credit
- Stopping the payment of insurance premiums or changing the beneficiaries on these policies
What if I’m Too Late?
If your divorcing spouse instigated the divorce – or got busy as soon as you instigated it – he or she may have already done considerable financial damage. This does not, however, mean that you have no recourse. The judge in your case will take your soon-to-be ex’s actions into careful consideration in determining the financial terms of your divorce. You may need a forensic accountant on your team to help ensure that your financial rights are well protected, and your dedicated divorce attorney will help you every step of the way.
You Need an Experienced Attorney in Your Corner
Brett Pritchard at The Law Office of Brett H. Pritchard in McLennan County, Texas, is an impressive divorce attorney who has more than 20 years of experience helping to protect the financial rights of clients like you. We are on your side, so please do not hesitate to contact or call us at 254-501-4040 for more information today.