Divorce can be a financially vulnerable time. The assets that supported one household must now be divided to support two. When a spouse misappropriates marital funds, things only get more complex during divorce. It’s important to take effective action. Here’s how to get started.
How Does Misappropriation Happen?
Misappropriation of funds happens when one spouse takes assets that belong to the couple together and either uses those assets for themselves or in a way that’s not in the best interest of the couple. For misappropriation to occur, the spouse must do this with the intent to deprive the other spouse of those funds.
There are several ways that misappropriation of funds can happen, including:
- Selling assets for far less than they were worth
- Hiding assets during the divorce process to avoid sharing them
- Deliberately using money that should have gone to you, depriving you of your fair share
- Using funds to support an extramarital affair or gambling habits
- Intentionally overvaluing or undervaluing assets, such as a business, to avoid sharing them
How to Take Action When Misappropriation May Have Occurred
Gather Evidence of Misappropriation
Evidence may include bank statements, credit card statements, receipts or any other documentation that supports your claim.
Consult With an Attorney
A divorce attorney can help you navigate the legal process and provide advice on how to proceed. They can also help you understand your rights and what to expect during the divorce proceedings.
If you have a judge’s order proving you’re owed money or property, that should be enough to get you what you’re owed. However, things aren’t always that simple. An experienced lawyer can put pressure on the other party to ensure court order enforcement.
Take Steps to Protect Your Financial Interests Now and in the Future
In some cases, a lawyer may be able to take quick action to prevent more money from being drained from a joint account. You can also protect yourself by making sure you have a clear understanding of your finances before you file for divorce.
If you believe that your spouse may misappropriate funds, talk about it with your attorney as soon as possible and adjust your strategies accordingly.
Worried About Misappropriation? Contact Schneider Law Firm, P.C.
It’s important to be aware of the potential for misappropriation and work with an experienced attorney to protect your rights and assets during the divorce process and afterward.
At Schneider Law Firm, P.C., our experienced family law attorneys can help you navigate complex divorce issues. We’re focused on providing clear guidance that protects your interests and your assets. Schedule a free consultation with our Arlington location today by calling us at 817-799-7125 or send us a message.