Once divorce papers are filed can spouses liquidate material assets?

christj1 · #1 Nov 5, 2007, 08:29 PM

I'm living with my son and his wife while my wife and I go through divorce. Once either party files for divorce are the assets frozen for disposition later or can a spouse start liquidating material assets without the other spouses knowledge?

lobrobster · Nov 5, 2007, 09:41 PM

There's nothing to stop you or your wife from emptying out any joint bank accounts and running up charges on joint credit cards. You'd be wise to take your name off any joint accounts and/or close the accounts outright. If your divorce is somewhat amicable, talk to her about how you'll handle joint accounts. Also, consult with your divorce attorney to petition the court to freeze any sizable liquid assets. Good luck!



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