If you are in a failing marriage and know a divorce is imminent, it is understandable for your emotions to get the better of you every now and then. However, you must be very careful with the actions you take in advance of a divorce, as they could affect issues like child custody, child support and the division of assets and debt.
For example, it may be tempting to allow friends or relatives to “borrow” assets as a way to get them out of sight and out of mind once the divorce process actually begins. But this is not something you should ever do.
Dissipation of assets
The process of intentionally wasting, mishandling or improperly transferring property to someone else without the other spouse’s consent is known as “dissipation of assets.” Taking any of these steps will have significant — and very negative — effects on your divorce.
Imagine that you know your marriage has broken down and is headed for a divorce, and so you decide to give a significant amount of money or a particularly valuable asset to a friend or family member without permission from your spouse or without any legitimate justification. If you attempt to do this, your spouse will almost certainly seek to take steps to fight back against these actions, such as freezing assets, seeking compensation and seeking more favorable divorce terms.
To prevent yourself from making any errors of judgment, get in touch with a family law attorney as soon as you begin to think divorce is a possibility. Be sure to follow the advice of your legal counsel at each step in the process.
For the guidance and advice you need, work with a knowledgeable Minnesota family law attorney at Appelhof, Pfeifer & Hart, P.A.
