QUESTION
Can I sell anything like cars, excavating equipment prior to filing for a divorce?
Asked on Dec 29th, 2013 on Divorce - California
More details to this question:
I am considering going out of business due to poor economic conditions, and in doing so, I'm selling the remaining excavating equipment, cars etc. prior to filing for divorce. Since there currently is no divorce action pending, would there be any issues with doing this?
7 ANSWERS
Family Law Attorney serving Peoria, AZ
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The Law Firm of Jessica M. Cotter, P.L.L.C.
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I would say that since there are no court orders, nor a preliminary injunction in place there is nothing to prevent you from liquidating the equipment. However, you will be required to account for the sale price and money that you receive, so maintain a complete paper trail. You really should consult with an experienced family law attorney in your area to review these issues.
Answered on Jan 03rd, 2014 at 11:14 AM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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If you hide the money you obtain and your spouse is entitled to half of it, yes, you could tick off the judge and he might be inclined to make you pay here attorney fees, etc. If the business is your sole and separate property, then it shouldn't be a problem. You really need to talk with a family law attorney in your area to understand all of the risks.
Answered on Dec 31st, 2013 at 5:02 AM
Alimony Attorney serving Redlands, CA
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Milligan, Beswick, Levine & Knox, LLP
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No although the ex can claim reimbursement rights when the divorce is filed for the sold community property.
Answered on Dec 31st, 2013 at 5:01 AM
No, but after you file, standard family law restraining orders are in effect.
Answered on Dec 31st, 2013 at 5:01 AM
Mediation Attorney serving Bloomfield, NJ
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Cassandra T. Savoy, PC
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Be careful. If these are marital assets, you will need to account for them.
Answered on Dec 31st, 2013 at 5:01 AM
Divorce & Family Law Attorney serving Salt Lake City, UT
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Utah Family Law LC
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Great question. The short answer to your question is "Yes, but." Yes, you can go out of business and sell the equipment, but remember that your wife will likely claim that you did this to mistreat her in divorce, so make sure you involve your wife in the selling process (and *document* her awareness and participation), so that she cannot claim she was "stunned" learn that all of the "assets" were "dissipated." And please, please speak with a good (not just any, but a good) divorce attorney about how you plan and go about the process of both going out of business and selling the assets AND preparing for divorce.
Answered on Dec 31st, 2013 at 5:00 AM