Divorce can be emotionally charged and challenging, often characterized by disagreements, resentment and a desire for self-preservation. Individuals may sometimes choose to give away assets during a divorce for various reasons.
Understanding these motives can shed light on the complex dynamics at play.
Spite or revenge
Divorce can bring out deep-seated feelings of anger or betrayal. A spouse may attempt to undermine the other party or seek revenge for perceived wrongdoings by giving away assets.
In certain situations, your spouse may try to hide assets. This is usually done by giving away items or money to family or friends with the expectation of getting them back after the divorce. This tactic prevents the other spouse from receiving a fair share during the asset division.
Minimizing financial obligations
Giving away assets can also be a strategy to reduce future financial obligations such as alimony or child support payments. The spouse may hope to obtain a more favorable settlement by appearing to have fewer resources.
Divorce can evoke intense emotions, causing some individuals to distance themselves from shared assets to sever emotional ties. Giving away assets may be an attempt to move on and start anew, focusing on personal well-being rather than material possessions.
Divorce settlements can be complex, involving negotiations over property, investments and debts. A spouse may strategically position themselves for a better overall settlement by voluntarily giving away assets. This could involve leveraging the goodwill earned from relinquishing assets to gain advantages in other areas of the divorce.
It is essential to note that giving away assets during a divorce can have legal implications. Courts frown upon such actions and may view them as an attempt to manipulate the process. In addition, temporary orders can actually forbid the dissipation of marital assets in this manner.
Knowing your legal rights and options will help you know what steps to take to protect your future – but it is wise to act quickly