Will I Need a Temporary Financial Restraining Order in My Divorce?

 Posted on September 08, 2020 in Dissipation

A couple can disagree about many issues during a divorce, but it is no surprise that financial matters are one of them. The decisions that you and your soon-to-be ex-spouse make during your divorce are extremely important because they are decisions that will end up affecting you for quite a long time afterward. When it comes to finances, the decisions that are made could quite possibly affect you for the rest of your life, which is why you want to be sure to protect your assets at all costs. One such way to do this is through the use of a temporary financial restraining order, which can protect your assets from being misused or wasted by your spouse.

What Is a Temporary Financial Restraining Order?

When most people hear the words “restraining order,” they think of an order protecting a person from physical violence. However, a financial restraining order functions along those same lines by protecting your marital assets from being transferred, misused, borrowed against, destroyed, or spent by your spouse during your divorce. Temporary financial restraining orders are a common tool utilized by spouses going through contentious high-asset divorces, but any couple could benefit from the order.

When to Consider a Temporary Financial Restraining Order

Divorces are often contested in some way, even if the disagreement is simply over the financial issues that must be settled. In some cases, these disagreements can bring out the worst in people, driving them to act in selfish, manipulative, and vengeful ways. If your spouse has done or is currently doing any of the following things, you may want to consider requesting a temporary financial restraining order while your divorce is taking place:

• Intentionally destroying property that is considered marital property

• Hiding or concealing assets from you

• Using finances as a means to control you or manipulate you

• Using his or her business as a way to conceal money

• Lying about his or her income

• Wasting marital income on things such as a substance abuse problem or an affair partner

• Making changes to estate documents, such as your will, without your knowledge or consent

Contact a Batavia High-Asset Divorce Lawyer

In your divorce, it is extremely important to make sure you receive your fair share of the marital estate. If you are concerned that your spouse may be dissipating, hiding, or otherwise being unfair with your marital assets, you should speak with a knowledgeable Kane County divorce attorney today. At the distinguished Law Office of Matthew M. Williams, P.C., we can help you protect your financial future and look out for your best interests. To schedule a private consultation, call our office today at 630-409-8184.

Sources:

https://www.ilga.gov/legislation/ilcs/ilcs4.asp?DocName=075000050HPt%2E+V&ActID=2086&ChapterID=59&SeqStart=6100000&SeqEnd=8350000

https://www.forbes.com/sites/jefflanders/2012/07/11/divorcing-women-heres-what-you-need-to-know-about-atros/#626c817327fb