Protection and Preservation of Assets

Protection and Preservation of Assets in Divorce Cases

West Palm Beach Divorce Attorney

Most people agree that a divorce may be the most traumatic event of your life. Let's suppose that you and your husband are about to go through a divorce. In most, if not all, of your married life your husband has been the primary earner and you have had an equally important job of taking care of the kids and the home. What should you do to protect and preserve your assets?

Should you consider long range divorce planning? Some prospective divorce parties begin to save for there divorce by diverting amounts of money that ideally would not be noticed. Although this might not be fair, this planning may be necessary and happens frequently.

Is usually not a good idea to tell your spouse that you plan to file for a divorce unless you are sure that you could work things out amicably because of the danger that your spouse might start arranging finances to your disadvantage. In situations where your spouse has kept tight control on family finances it is a good idea and perfectly legal to withdraw half the money from the joint account or brokerage account. This is important because there will be a time delay to be able to obtain temporary relief such as temporary child support, alimony and attorney’s fees. Normally, the court will require mediation before a temporary hearing can be scheduled. The court will not normally consider a party's lack of funds as an emergency to obtain an immediate hearing.

The law offices of divorce attorney Stephen J. Press has over four decades experience concerning the protection and preservation of assets in divorce cases and realizes the importance of taking proactive measures.

It is extremely important for protection of assets that your attorney take immediate action to ensure that your divorce planning is not for naught. If things are not handled correctly in the beginning of the divorce case your spouse can and will take action to move and hide assets after being served with a divorce petition. The risk and danger in addition to the difficulty in finding or recovering hidden assets is that the "victim" spouse may make a bad settlement and not be able to support herself and the children. Abusive threats of hiding assets and that the spouse will not be able to support herself and the children often happens and often works.

One way to counteract such threats and protect your assets is to file a lis pendens. The lis pendens, once filed, is a simple way for your attorney to preserve marital assets at the initiation of a divorce case. This will permit bank  and brokerage accounts and real estate to be frozen.

Contact a West Palm Beach divorce attorney

At the law offices of West Palm Beach divorce attorney, Stephen J. Press, we handle the full range of divorce and family law matters. We are dedicated to protecting the rights with professional excellence. Please contact West Palm Beach divorce attorney, Stephen J. Press at 561-833-2772 or contact us online for free consultation.