Divorcing? What You Should Know About a Standing Order
When we are advising in divorce cases, our Atlanta law firm goes out of our way to make sure that our clients know some of the very basics of divorce. One important issue that comes up in Georgia divorce is something called a “standing order”.
This order, also known as a “mutual restraining order”, automatically goes into effect upon filing for a divorce. It is designed to “restrain” one party from disadvantaging the other by suddenly accumulating “marital” debt (by buying cars, jewelry, etc.), selling off marital assets, or hiding assets from the court.
The courts understand that sometimes doing something out of the ordinary with finances is necessary so it allows for an exception when the other party gives consent. Otherwise, parties should not change (increase) spending habits, remove assets from the home or jurisdiction of the court or to sell marital property without the consent of your spouse.
As a side note to hiding assets, this article by Forbes details the most common ways that spouses hide assets from each other and it’s not what you might think. Undervaluing property, overstating marital debt and fudging actual income and expenses are all ways that someone can cheat their soon to be ex. The best advice is for you to retain legal counsel to assist you in ensuring that all marital assets and liabilities are properly documented.