Transcript:
Hello everyone and good morning. My name is Justin Oliver, and I’m an attorney with Divorce Matters. Today, I’ll be answering questions we’ve been getting from the community about how to handle assets and child custody arrangements when a person is separated from their spouse, but before the parties have officially filed for divorce.
Bank Accounts and Property
The first question that I’ll be answering today is what should a person do with bank accounts and property when they and their spouse have separated but have not yet filed for divorce.
The reality is there are no hard and fast rules on how spouses should divide up or separate out their bank accounts and properties after they separate. But it is important to know a couple of expectations the courts will have of both you and your spouse during this period of time. The court’s going to want to make sure you preserve the marital estate the best that you can and also avoid committing any sort of financial misconduct.
Ideally, you and your spouse will be able to work out an arrangement that ensures all of the marital bills are getting paid and that you each have sufficient property to get you through the divorce process.
But if your case is high conflict, which is not uncommon in divorces, just understand that whatever actions you take regarding bank accounts and property may very well need to be explained to a judge later on as part of the divorce process.
So it’s important to be mindful of the impact your actions have on the overall marital estate and on your spouse’s ability to meet his or her day-to-day needs.
Custody
The second question we’ve been receiving is what should I do about custody of our children if my spouse and I have separated but have not yet filed for divorce.
Custody issues can be difficult to navigate, but if you and your spouse are able to create a custody arrangement that works for you and the children, that will certainly help everyone involved avoid many of the negative impacts a divorce can have on a divorcing family.
It’s always important to consider the practical considerations of custody arrangements and how different custody options may impact the well-being of the children. This includes things like getting your children to and from school and extracurricular activities.
Generally, the more you’re able to keep healthy routines and environments unchanged, the better it is for the children. Consistency is important to children who have divorcing parents.
If you and your spouse are unable to reach an agreement on custody issues, then it may be necessary to file for divorce and request the court intervene and help establish some stability for you and your family.
I’d like to thank those of you who have been reaching out with questions. If you have any questions regarding your particular situation, please contact us by texting the number in this video or by visiting our website below to speak with one of our attorneys.
We will be back next Friday to answer even more questions. We hope you have a great weekend and stay safe.