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Liquidating assets before divorce

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If the separate property cannot be easily traced back to its separate source then it will be considered to have been comingled with marital property and as a result be considered marital property and is essentially gifted to the marital assets.

A common issue of comingling is when a spouse sells a home owned prior to marriage and puts some or all of those funds into a home that is purchased during the marriage.

If a couple elects this marital regime to be applicable to their marriage both spouses will share in all the assets and liabilities of their joint estate in an equal manner at the dissolution of the marriage.

This principle applies to all property, whether acquired before the parties date of marriage or thereafter and it is also irrelevant in which of the spouse’s name such property is registered.

The equitable distribution of property in Florida (property division) involves the complicated process of identifying all assets, income sources and liabilities; characterizing each as marital or separate property; and reaching an equitable division of the marital assets.

Call (877) 529-2422 right now to set up a free consultation that will let our lawyers review your case and see how we can help.

A divorce inevitably has a direct effect on the ownership of immovable property.

In South Africa we have three matrimonial property regimes.

Some spouses may attempt to liquidate assets without the other spouse’s consent or hide assets when completing their Financial Affidavits.

It is important to remember that Financial Affidavits are sworn statements that are supposed to be factual to the best of a person’s knowledge, and any knowing attempt to hide an asset or misrepresent one’s assets could be grounds for perjury.