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Illegal Transfers: How to Catch Your Spouse Red-Handed |
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Another devious way the moneyed spouse might try to reduce the amount of assets declared during a divorce action is to transfer assets to a friend or family member. She will then claim that she no longer has these assets. The lawyer for the recipient spouse has to then prove that the transfer was made to deprive that spouse. If the transfer is about to happen, the recipient's lawyer can go to court to try to block the transfer. To substantiate this claim, the lawyer has to prove to the judge why he thinks the property is about to be transferred and what property or money is involved. |
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Marion Dupont came from a wealthy family, who gave her several properties after she married Andrew Billings. After three years of marriage, Marion met a man with more intelligence and energy than Andrew could ever hope to have. After she broke the news to Andrew and filed for divorce, she began transferring the titles of her property to her sister. Andrew was clever enough to suspect Marion would do something sneaky like this, so he hired a private investigator. The PI did his homework and was able to provide proof that Marion was in the process of transferring the titles. Andrew's lawyer then brought this to the attention of their judge and was able to block the transfer. |
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Selling Your House, Business, Stocks, or Other Holdings to Make Ends Meet |
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If your living situation and financial status have changed for the worse because of your divorce, you might consider liquidating some assets or selling the house that was awarded to you to help with your cash flow. Before you make this decision, speak with your accountant or a financial planner. |
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