Financial Restraining Order Explained – Part 2

February 24th, 2017

Ronald Johnson, one of the most competent and knowledgeable Hillsboro Oregon family law attorneys, knows that the financial restraining order can be difficult to understand.  He guides clients through the process and counsels them on what they can, and cannot, do with their finances.

Bags of MoneyIn part one, we defined the financial restraining order and noted when it comes into effect.  In this article, we’re going to look at four areas that must be maintained during the divorce process.

Insurance coverage- Once a financial restraining order comes into effect, you cannot alter most types of insurance that covers one of the two parties involved or a child of one of the two parties.

Beneficiaries-You cannot change beneficiaries to any insurance policy under the guidelines of a financial restraining order.

Property- A financial restraining order prevents either party from selling, giving away, or hiding property. This does not include paying taxes.

Extraordinary expenditures- If you want to make a large sum purchase, you must provide the other party with a written notice and accounting.

The last two areas do not apply if related to expenditures for the welfare of a child.

To read part one of this series, click here.

Contact Ronald Johnston, premier Hillsboro Oregon family law attorney, if you need help navigating a financial restraining order today.

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