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Don’t Attempt to Give Away Marital Assets Before a Divorce

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.

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  • "Tori had a thorough understanding of my situation and made excellent recommendations to resolve my concerns. She was persistent on communication and handled everything in a very timely manner. I would definitely hire her again in the future if needed." - M.K.

  • "With Appelhof, Pfeifer & Hart, P.A., it is like having a family physician. They are all knowledgeable, thorough, comforting, and the only call I need to make for all my legal needs for many years to come. No matter what the matter, I totally trust their advice and commitment to me and my family." - J.N.

  • "Mary from APH Law helped me thru a difficult divorce. She and the entire staff was there for me every step of the way helping me on what to do next. They listened to what I wanted and helped me achieve what matter the most to me in the divorce settlement." - Dana C.

  • "I chose APH after my initial consultation with Mary. I felt my best interest would be represented. The entire process went excellent, the attorneys and staff communicated effectively and efficiently with me throughout the process as they needed to. Being new to the legal process and verbiage, they walked me and talked me through the next steps and the jargon, I felt completely comfortable and represented. I hope I never have to use legal services again but if I do I will call Mary at APH Law and know that I will be taken care of." - Jeff M.

  • "Divorce is a time of emotion and stress. Mary Pfeifer , My lawyer was professional and compassionate. She was very informative through the process. Her insight helped me in my decisions. She worked hard to obtain a settlement which was fair to both parties. Though, I hope I won't need her help again. It is reassuring to know a good person that is willing to help." - Rod S.

  • "I first came to Ms. Jacquelyn Lutz of Appelhof, Pfeifer and Hart in October of 2016. It was definitely the worst time in my life and she compassionately spoke with me about my options. Ms. Lutz thoroughly explained the laws, statutes, process and what to expect going forward. What was supposed to be one case, turned into three intricate cases that took a huge toll on me and my family. Ms. Lutz represented me in court on all three cases with a vast knowledge of the laws and how to proceed accordingly. During all three cases she kept me informed, calm, gave me resources to utilize, and (most important) gave me a realistic view of what may come next. Ms. Lutz knew each case required a great deal of knowledge and creative thinking on how to legally proceed forward with each case. My family and friends are forever grateful for the amazing representation by Ms. Lutz. I highly recommend Ms. Lutz for anyone needing or considering superb representation for any kind of family law. " - M.H.

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