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How to Handle Money When Divorce Starts

Posted by Gerald Williams 
· October 14, 2021 
· No Comments

When a divorce proceeding has begun, both parties are subject to certain ground rules. The petitioning party who has initiated the process is imposing restrictions on the responding party, but also self-imposing those restrictions since they apply to both parties. Neither party may dispose of assets except (a) for the necessities of life or for the necessary generation of income or preservation of assets; (b) by an agreement in writing; or (c) for retaining counsel to carry on or to contest the proceeding. Basically, it is either typical life, lawyering up, or with the other party’s written consent.

The purpose of the restrictions is to deter parties from engaging in bad-faith or retaliatory conduct, and brings order and fairness into the case proceedings. But the restrictions do not interfere with the parties’ everyday financial needs so that the parties can conduct their normal activities.

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