What Should I Do If My Spouse Moved Funds to Offshore Accounts Before Filing for Divorce?

When you get divorced in Texas, the court expects both partners to provide a full account of their assets, including marital and separate property alike. Unfortunately, your spouse may have their own plan in place and could try to prevent you from getting any of their money. They may try to move funds out of your joint accounts and into personal offshore accounts you can’t access. As Houston divorce lawyers, C. E. Schmidt & Associates PLLC can help you put together a plan to prevent this from happening.

If you discover that your spouse has moved funds to offshore accounts right before filing for divorce, you need to take the necessary steps to protect yourself. Otherwise, you could end up dealing with severe financial fallout you did not prepare for. To ensure that your marital assets are divided in accordance with Texas state law, you should consult with a divorce lawyer to learn what your options are. Depending on the situation, you may have more power than you think.

How Can I Prevent This From Happening?

While it may be difficult to prevent your spouse from moving money to offshore accounts, there is still something you can do to freeze their assets and try to get that money included in the asset division. It begins with filing for divorce yourself, as that can stop your spouse from mishandling marital funds any further. From there, there are multiple steps you can take to protect your interests:

• Preliminary Injunction: After you have filed for divorce, request a preliminary injunction from the court. This will freeze your spouse’s assets, including their offshore accounts. That means your spouse cannot access those funds or even transfer them to other accounts.

• Disclosure Order: After you have frozen their assets, seek a disclosure order from the court. This will order your spouse to be transparent with all their financial records, including the details of their offshore accounts, where those accounts are located, and how much is in them.

• Forensic Accountant: To investigate your spouse’s finances further, consider hiring a forensic accountant to trace the funds and provide detailed information about their financial records.

Can You Move Money Before Filing for Divorce in Texas?

Generally, you are allowed to move money before filing for divorce in Texas. However, you cannot move all marital funds to a separate account. If you are trying to separate your finances from your spouse, you need to be careful. Once the divorce is filed, a standing order may prevent you from accessing marital funds. Just be honest and transparent with everything you are doing.

Contact a Divorce Lawyer Today

At C. E. Schmidt & Associates PLLC, we can utilize our combined 100 years of legal experience to help you with your divorce. Reach out to us at 346-517-6906 or contact us online to speak to someone about your case. Our legal team is well-equipped to help you through every stage of your case. We can answer any questions you may have and provide critical legal support.