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Why You Need to Protect Your Assets During Divorce

Divorce is often a nasty thing that involves two people who are angry, bitter, and frustrated. That means a lot of divorce proceedings involve bad feelings that bring out the worst in people and it can backfire. When someone is angry, they often aren’t in their right mind, making bad decisions along the way. They might think they’re doing the right thing by ‘getting back’ at their soon-to-be ex-partner, but it’s not really a good idea at all. That’s why you need to hire a family law attorney Scottsdale AZ immediately.

Some of the most common mistakes divorcing people make involve their money. They might pull every dime out of the shared account, go on a shopping spree, or even hide other assets. Not only is this the wrong way to handle the news about a divorce, but it can actually hinder the entire process. Not only will a judge most likely order you to pay them back, but such behavior has other consequences you don’t want to incur. 

Being on Your Best Behavior 

Your natural inclination might be to hurt the other person in some way. That’s how a lot of people deal with pain themselves; they like to spread it around. In doing so, as mentioned above, they end up only complicating matters for themselves. Getting revenge might feel good temporarily, but it can cause a lot of lasting consequences you don’t want to deal with.

Instead, think with a clear head. Don’t go crazy spending all your money, taking out loans, or hiding assets. Rather, approach your impending divorce with a conservative mindset. The State of Arizona actually enacts what’s called a Preliminary Injunction in which the court will tell those involved they are forbidden from doing any of those things. For example, they can’t sell assets, get a second mortgage on the house, or hide their earnings. 

Think of it like a freeze where everything is put on hold. There may be a lot of decisions to make, and the court proceedings can help with that, but you can’t make any certain decisions with the money and other assets until the ruling. This isn’t a complete freeze, though, because you will still be expected to keep up on your payments during this time and to stay on top of your bills. If you have joint responsibilities financially, then you’re expected to continue as normal until the divorce is final.

Violating the Preliminary Injunction

What happens if there’s a Preliminary Injunction (automatic in some states) and someone violates it? This is often seen in many ways. Your community monies can get spent on a drug/alcohol/gambling addiction, on an affair, and in other ways. If this happens to you, and your community pool is dwindling or even gone, you can make a reimbursement claim. You are entitled to half of that money, so if it gets spent, you can make a claim against them.

In this case, and to help you handle a divorce in general, you should contact Tiffany Fina Law firm. Their team of family law attorneys will fight for you during this trying time. You can contact them by going to https://tiffanyfinalaw.com.

Tiffany Fina Law Firm
7411 E 6th Suite 103
Scottsdale, AZ 85251
480.744.7442

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