How Can Assets Be Protected In Divorce?
In contentious divorce cases, a spouse might have reason to fear that the other spouse may deplete, hide or even destroy assets. To prevent this, the spouse may want to take steps to protect assets. This must be done with care and in full view of the court. Done incorrectly, attempts to protect assets could themselves be perceived as attempts to hide assets.
At PARRINO|SHATTUCK PC, in Westport, our attorneys are well-versed in all available options to protect assets in Connecticut divorce, from temporary orders to dissipation claims.
Automatic Temporary Orders In Divorce
Upon filing for dissolution of marriage in Connecticut, automatic temporary orders take effect that state “Neither party shall sell, transfer, exchange, assign, remove, or in any way dispose of, without the consent of the other party in writing, or an order of a judicial authority, any property, except in the usual course of business or for customary and usual household expenses or for reasonable attorney’s fees in connection with this action.” They also bar both spouses from concealing, encumbering and attempting to transfer jointly owned assets to their own name. While a spouse may still be concerned that the other party may violate the orders, discovery and investigation with the assistance of a skilled lawyer may help to uncover such attempts in pursuit of a fair division of property.
If it is determined that a spouse intentionally wasted or selfishly squandered assets leading up to the divorce, a claim of dissipation of marital assets may be pursued in order to offset these losses for the other spouse in the final division of property.
Contact Us For More Information About Divorce Asset Protection
PARRINO|SHATTUCK PC offers sophisticated legal counsel in all divorce-related matters. Our attorneys assist our clients in protecting their assets leading up to, during and following the divorce process.