BROOKLYN, New York. Divorce is hard enough. It’s even harder if you learn that your partner is leaving you for another woman or man. Yet, if your marriage is ending due to a straying partner, you may want to consider the potential financial implications involved. For instance, if your ex is spending your shared money on gifts for his new fling, or going on expensive vacations with a new love interest before your divorce is finalized, he or she may have to pay for it.
Dating before your divorce is finalized can put your divorce settlement in jeopardy. According to one writer for Forbes, even just joining a dating site can hurt your case. If your divorce is likely to be protracted and you have questions about how dating could impact your case, consider speaking to the Brooklyn, New York divorce lawyer at the Elliot Green Law Office. Our firm can help you understand how dating can possibly impact your case.
In some cases, individuals may purposefully spend money on a girlfriend or new fling in order to avoid having to split the money with their ex. For women who have given up job opportunities to stay home and care for the kids, or for women who have sacrificed their own career ambitions to support those of their husbands, a man’s choice to dissipate assets could mean the difference between receiving the support needed to get back on one’s feet, and floundering financially. When most courts award alimony or support, they do so to give the financially disadvantaged person in the couple a chance to gain training and skills so they can rejoin the workforce. When a spouse dissipates assets, women (and sometimes, men) may lose access to essential funds that they need to support themselves after the marriage ends.
What can you do if you are concerned that your ex will spend your money? In the most severe cases, individuals can ask for an Automatic Temporary Restraining Order. These orders prevent individuals from selling, transferring, buying, borrowing, changing bank accounts, or hiding assets. Essentially, an ATRO freezes a couple’s assets until financial questions in the divorce can be resolved. While these orders are generally only initiated in the most serious of cases, they can give a forensic accountant a good picture of a couple’s financial situation.
So, if you are concerned that your ex might be spending money on his new girlfriend, you do have options. In some cases, you can freeze your assets, and in other instances you can split bank accounts. However, sometimes a couple’s financial situation is more complex and may require more detailed counsel.
But this works the other way as well. If you are dating and are not yet divorced, it is important to understand that any money you spend during your dates could impact your divorce should these expenses come up in court.
If you are going through a divorce, it is important to protect your rights and understand how your divorce could impact your financial health. Visit the divorce lawyers in Brooklyn, New York at the Elliot Green Law Offices today to learn more.