When divorce papers are filed, an Automatic Temporary Restraining Order takes effect. The purpose of this is to ensure that neither spouse has the knee-jerk reaction to take everything and cut their losses.
There are some really obvious examples of this, such as jilted exes emptying out the joint bank account or selling off the valuable property.
In California, however, once the respondent is served with divorce papers, however, they are bound by the restraining order. Simply by filing for the divorce and presenting the papers, your assets have been given protection.
There are some things that the ATRO protects that even those getting divorced don’t think about, such as health insurance. Health insurance is not cheap even when it is through an employer so when the papers are served, health insurance for a spouse is an easy expense to cut. If that spouse is in otherwise good health, this may go unnoticed even and often this is not done maliciously. If you do end up getting sick only to realize you aren’t insured, talk to your lawyer. They will get it straightened out. Insurance is, in fact, an asset that cannot be disposed of during a divorce.
California law also allows for complete financial transparency between spouses. This requires the utmost honesty and fairness in regards to any and all transactions and disclosures involving community property. These fiduciary duties are one of the methods that prevent either spouse from mismanaging the joint estate. Among other things, this could involve removing all of the funds from the joint bank account and throwing it all away on things that you don’t need or want. Basically, it prevents malicious retribution.
In the event that your spouse removes the monies from one of your accounts, squanders, or hides assets, you are well within your rights to demand all financial statements and seek damages for the breach in their fiduciary duties. Discuss this option with your attorney.
Farbod Majd Esq.
Divorce Attorney w/ offices in Beverly Hills/Los Angeles
Services in English, Turkish, and Farsi/Persian (Iranian/American Lawyer)
8383 Wilshire Blvd Suite 646, Beverly Hills, CA 90211
310.956.4600 | Fax: 310.878.8989 | Fmajd@FmajdLaw.com