How Do I Stop Comingling Assets If I Plan To Divorce?
All assets that were acquired during the marriage are subject to equitable distribution regardless of whose name the asset is in. The marital home and any pension or retirement account are difficult to separate prior to or during the divorce. Typically the distributions of these types of assets are addressed in the Final Judgment of Divorce and Matrimonial Settlement Agreement. The most problematic Joint assets are joint savings or checking account because both spouses have access to the monies in these accounts. If one spouse was to withdraw 100% of the monies in these accounts, the other spouse could be put in a financial disadvantage. If one spouse thinks the other spouse may take this type of action, they should withdraw at least one-half of the monies in these types of accounts and place them in a separate individual account.
If you’re receiving income, you should open a separate bank account. This way, you maintain control over the funds because they are not comingled.
Once A Divorce Is Filed, How Quickly Can A Motion Be Filed?
Once a divorce is filed, you can file a Pendente Lite motion, which is a temporary order which governs what happens while the divorce is pending. It takes a minimum of 28 days for a Court to take action on this type of motion. Typically, this kind of motion is filed to maintain the status quo. If one spouse is the primary earner and he or she has been paying the bills, the court will order that the status quo be maintained. If each spouse is contributing to the household expenses, the court is going to enforce this status quo.
One of the main reasons why people are unable to file with the court is because of financial difficulty, especially in a situation where one spouse withdraws monies from a bank account. An option is to request that one spouse pay the other spouse’s attorney’s retainer and fees. This type of request should be included in a Pendente Lite Motion. This type of motion typically takes about 28 days to be put into effect.
Does Moving Out Of Our Home During A Divorce Mean I am Giving Up this Property? Can My Spouse Remove My Name From The Deed Without My Consent?
Absolutely not. If you move out for whatever reason, the house is still an asset that’s subject to equitable distribution, and you will not lose your rights just because you moved out.
In order to remove either spouse’s name from the deed, both spouses need to sign the deed and agree to it. One spouse cannot just take off the other spouse’s name without consent from the other party. Typically, the deed change happens at the end of the divorce, where the parties agree regarding the ownership of the house, how much equity is in the property, and what the one spouse must pay the other party to buy out his or her interest.
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