Filing for divorce can feel pretty scary under any circumstance. That’s especially so, however, when you’re concerned about your finances.
All kinds of thoughts may be going through your head. Will your spouse cut off the funds you need to pay the utility bills? Will they abruptly drop you off their insurance coverage? Will you find yourself locked out of the joint account?
Temporary orders can help retain the status quo and preserve your assets
One of the first things that should happen in a divorce is the issuance of temporary orders that are designed to preserve the status quo even as a couple starts to separate their lives. These orders can:
- Prevent your spouse from selling any property out from under you (even if it is only in their name)
- Stop your spouse from transferring assets into someone else’s possession to try to avoid splitting them in the divorce
- Stop your spouse from concealing, removing or otherwise using up any assets you may have before the divorce is final (while still allowing their use for ordinary living expenses)
- Prevent your spouse from changing their beneficiary designations on their pension, investments and bank accounts
- Make certain that you retain your current medical insurance coverage (if that is through your spouse)
In some cases, temporary orders can even be used to make sure that the household bills are paid as usual and that you have some means of support.
Just the same, don’t take chances with your financial situation
None of this is to say that your spouse won’t try a few underhanded tricks with the finances during your divorce, however. With that in mind, it pays to make sure that you gather up all the financial documents you can find before you make your move — just in case.
Talk to an attorney today to learn more about how you can effectively prepare for your divorce.