Protecting assets during a divorce can be a big concern. You need to take steps to inventory what you have, determine what you will need for the next months, and protect, document or in consultation with our firm consider securing large joint accounts, joint lines of credit, and items of personal property.
If you anticipate that your spouse may have been or is likely to be financially irresponsible or unfair during a divorce, you should speak to one of our experienced family lawyers immediately about asset protection.
Thomas and Associates have 38 years of experience in advising clients on protecting their assets.
Protecting Assets during Separation and Divorce
There are steps that you can take right away to protect your assets in a challenging divorce or separation situation. However, such decisions should be reviewed with your lawyer to ensure that you are not hurting your interests. To begin with, secure copies of important documents from tax returns, investments, RRSPs, RESPs, bank and credit card statements. Inventory your resources. You may need sources of cash flow to ensure proper representation by a qualified family lawyer in the event of a long or challenging divorce. Determining which sources you have available is an important part of the planning process.
The decision of how to secure and protect property interests should be made in consultation with your lawyer. Acting quickly is important. So too is bringing important information to your lawyer. At Thomas and Associates: Trial and Appeal Lawyers, we have experience dealing with such matters. We can assist you in drafting an Application to obtain an injunction against your spouse improperly dealing with such family assets including bank accounts, lines of credit, mortgages, and perhaps company or business assets.
Just as there are times when injunctions are needed to restrain the improper use of family assets after separation, we can also assist with creating an arrangement that facilitates each spouse having access to funds with the idea of moving forward such that the family assets are secure and each has funds to live off until a final resolution can be made by negotiation or trial.
Spouses owning their own business should appreciate that mechanisms can be put in place to facilitate the use of the business on a go-forward basis. Again, acting quickly to deal with potential property injunctions against a business is important. The sooner that Thomas and Associates: Trial and Appeal Lawyers have the relevant documents, the quicker we can respond and deal with the challenging issues.