What happens to all the marital assets during the divorce proceeding?

The breakdown of a marriage can be an emotionally trying time for everyone involved.  One of the main concerns people ask us about is what happens to their property, money and children during the divorce proceeding.  These concerns often arise out of fear–for example, a husband may spend all of the marital money to spite the wife or a wife will tell the husband that she is leaving the state with their child.  Fortunately, there is a process known as an automatic, temporary injunction to addresses these very concerns.  Once someone actually files for divorce or legal separation, the opposing party is personally served with the petition and summons or opts to waive service, and then a temporary injunction automatically goes into effect.  Both parties are subject to the temporary injunction until the final decree is entered, the petition is dismissed, or until further order of the court.

What is a temporary injunction?  The temporary injunction keeps both parties from transferring, encumbering, concealing or in any way disposing of any marital property without the consent of the other party or an order of the court.  Basically, both parties are forbidden from disturbing the marital property unless consent is given or it is used for life’s necessities, such as paying for utilities, food, child care expenses, gas and other expenses that are not out of the ordinary.

If there are minor children, the temporary injunction prohibits parties from leaving the state without consent from the opposing party or an order of the court.

Moreover, parties must give fourteen days’ advance notification and have written consent of the other party or an order of the court to cancel, modify or terminate any health, homeowner’s, renter’s, or automobile insurance policies.  This provision keeps both parties protected through the divorce proceeding.

If you are in a situation where divorce is on the horizon, rest assured that protections are in place during the process.  The attorneys here at the Moller Law Group, LLC can guide you through how the temporary injunction will work in your specific situation.  If you have questions about divorce or legal separation, please contact our office so we can help guide through the process.  719-687-2328

* This is not considered legal advice, and the legal system constantly changes.  If you want current and accurate legal advice, please contact our office and arrange to speak with an attorney.  719-687-2328

Advertisements

One thought on “What happens to all the marital assets during the divorce proceeding?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s