One aspect of divorce that Portland family law attorneys are always explaining to their clients is the financial restraining order.
Ronald Johnston, an attorney with more than 40 years experience practicing family law in Oregon, helps his clients understand financial restraining orders and advises them on what they can, and cannot, do once the order is in place.
A financial restraining order prevents divorcing couples from drastically changing their financial status quo. Basically, a financial restraining order prevents either party from spending money on anything above necessary living expenses.
For example, this agreement can prevent one spouse from taking the couple’s money and spending it on a lavish trip, or giving it away, or selling a piece of property below market value.
A financial restraining order comes into effect, automatically, when a spouse files for divorce and the other party has been served with the necessary paperwork.
Both parties must obey the financial restraining order; compliance is not optional.
If one party wishes to spend a large sum of money on something that isn’t a living expense, they can file a motion with the court.
To read part two of this series, click here.
Financial restraining orders are very complicated. Ronald Johnston, one of the most experienced Portland Oregon family law attorneys, can guide you through the process. To contact him today, click here.