My Ex Is Giving Away Money During Our Divorce

 Posted on July 30, 2024 in Contested Divorce

Divorces tend to bring out strong emotions, especially when the topic of asset division occurs. Your ex may attempt to hide or dissipate assets by giving money away during your divorce proceedings so he or she does not have to split it with you. If you suspect that your ex is giving away money or otherwise hiding assets, you will need the help of a skilled Texas divorce lawyer to understand your options for stopping this behavior.

Signs Your Ex Is Hiding Assets

Giving away money before or during your divorce proceedings is a major sign that your ex is trying to hide or dissipate assets, but it is not the only indicator that your ex may be trying to keep assets from division.

Signs that your ex is trying to hide assets from you include:

• Overpaying on taxes or debts in order to claim the refunded amount once a divorce is finalized

• Making many extravagant purchases, such as suddenly buying multiple designer items

• Reporting a sudden decrease in business income or changing business practices

• Losing financial documents including tax records and income records

• Acting secretly or opening separate bank accounts and business bank accounts

Additionally, your ex may be refusing to speak about assets with you, or may start transferring assets to friends and family members as gifts with the intention to receive these items back after the divorce is finalized.

Stop Your Ex From Hiding and Giving Away Assets

In Texas, hiding or giving away assets like money during a divorce is known as Fraud on the Community. There are several consequences for doing this, including losing all rights to the assets or facing criminal charges.

If you suspect your ex is going to start giving away money or has already attempted to give away money or hide other assets, you can work with your lawyer to file a Temporary Restraining Order (TRO). A TRO can legally stop your ex from selling or transferring assets, giving away money or other assets, or changing bank accounts.

Your TRO may be customized to your specific situation and needs throughout your divorce.

Contact an Austin, TX High Net Worth Divorce Attorney

Dealing with a divorce is stressful enough without the potential of your ex giving away and hiding the assets you are supposed to split. A knowledgeable Travis County, TX high asset divorce lawyer can advocate for your rights and best interests throughout a divorce if you believe your ex is giving money away.

Our attorneys always provide dedicated representation, and we work hard to obtain a positive outcome in your divorce case. Contact Powers Kerr & Rashidi, PLLC at 512-610-6199 for a consultation.