What Can I Do To Protect Community Property?
If you are concerned about a spouse misusing community property, one of the best things you can do is file for divorce. During your marriage, you have little protection from a spouse draining money from your checking account or moving assets. Once you file for divorce, however, the court will issue a preliminary injunction barring either party from selling assets, hiding assets, transferring assets to others or otherwise misusing marital property.
Good record-keeping is key to protecting your assets. Take videos of important assets and obtain copies of financial records, including account numbers and balances. If assets disappear, seek legal help immediately.
Even if an asset is titled in your spouse’s name or the name of a business, it is still community property if your spouse acquired it during your marriage. If your spouse owned an asset such as a business or real estate prior to your marriage, any increase in value that occurred during your marriage is community property.
Contact Our Community Property Attorneys
For more information, talk to our Phoenix attorneys for protecting assets in divorce. Call 602-626-9552, 800-409-0262 or contact our office online to schedule a consultation.