Removing Marital Property Before Divorce


“Once there’s a separation,” states a financial adviser who works with divorcing couples, “people do weird things with money.” That’s not surprising. Practiced Florida family law attorneys know from long experience that asset-tied issues are a prime source of concern and acrimony for splitting married partners. Money is flatly “a source of contention,” notes the above adviser, and it “can lead to a partner removing marital property before divorce or using money as a bargaining chip.”

There’s a list of what to do before telling your spouse you want a divorce, but removing marital property before a divorce is never one of them.

How Often Does a Spouse Remove Marital Property Before a Divorce

How often does that happen?

Ask a banker. Alternatively, query a proven divorce legal team with a demonstrated history of diligent advocacy on behalf of clients dealing with financial strife. They will tell you the same thing: If you’re headed toward a split, you probably want to take a close and timely look at the community assets you share with your spouse. If you own a small business, you’ll also want to understand how an LLC is treated in divorce.

A joint bank account, for example, a recent Forbes article emphasizes, can quickly become problematic if a marriage is approaching the finish line. Crypto divorce settlements can also be messy.

Why Joint Bank Accounts Cause Problems in Divorce

Here’s why such an account can engender a headache in a hurry: It treats both holders as one individual, giving each of them equal access to conduct transactions. The potential horror story tied to that is obvious: You might wake up one morning to find that your impending ex has totally depleted the account.
Safeguards can be taken to avoid that, and a divorcing party has legal rights aimed at recovering wrongly depleted marital assets.

The bottom line stressing money and financial matters in a failing marriage is that a timely and proactive stance can help identify potential issues and protect marital property. An experienced Tampa divorce legal team can provide further information.

Contact Our Experienced, Dedicated Divorce & Family Law Lawyers Today

As a dedicated family law practice in the Tampa Bay area, we work one on one with our clients, resulting in representation that is characterized by genuine care and understanding. If you are dealing with divorce or other family law issues, please contact at 813-223-7739  to schedule an appointment with one of our experienced family and divorce attorneys.