When the term “restraining order” comes up, most people immediately think of orders of protection, often linked to situations of abuse or harassment. In contrast, during an Illinois divorce proceeding, a different kind of restraining order can come into play, one that’s less about personal safety and more about financial security. This legal tool is a Financial Temporary Restraining Order.
- Are you concerned about how to protect your financial assets in a divorce?
- Is your spouse transferring or spending joint assets without your consent?
- Have you been served with a Financial Temporary Restraining Order and feel unsure about the implications?
If these circumstances resonate with you, gaining an understanding of this type of restraining order can be critical. Throughout this blog, we’ll unpack what a Financial Temporary Restraining Order in Illinois entails; how it can be used to prevent a spouse from significantly altering marital assets during the divorce litigation process; when it’s needed; how to get one and your rights under it; and what to do if such an order is served against you.
A Financial Temporary Restraining Order in Illinois is a court order that maintains the financial status quo during divorce proceedings. It stops a spouse from making considerable changes to the couple’s financial assets. This includes selling property, emptying bank accounts, or making large purchases that could affect the equitable distribution of assets during the Illinois divorce process.
Related Article: Dissipation of Marital Assets or the Marital Estate?
When is a Financial Temporary Restraining Order Necessary?
If you’re concerned that your spouse might transfer, spend, or hide marital assets without your agreement, a Financial Temporary Restraining Order could be an important step in your divorce process.
This legal measure can prevent potential financial misconducts that could disrupt the fair distribution of marital assets. However, meeting specific legal criteria is required to obtain such an order.
How to Secure a Financial Temporary Restraining Order in an Illinois Divorce
To get a Financial Temporary Restraining Order in Illinois, you must present compelling evidence for several criteria:
- A clear right requiring protection.
- The potential for irreparable harm to you or your children without the restraining order.
- No other adequate legal remedies are available.
- Hardships balance leaning in your favor, without causing undue harm to your spouse.
An experienced Chicago divorce attorney can guide you through this process, ensuring your case meets these conditions.
Impact on Asset Control
Once granted, this restraining order imposes strict rules on asset division and management. It restricts a spouse from transferring, concealing, or disposing of marital funds until a court decision. Filing the restraining order on time is crucial, as late applications may not protect assets already moved or spent.
Duration of a Restraining Order in Illinois
A Financial Temporary Restraining Order lasts for 10 days initially. After this, the court arranges a hearing to decide if extending the order is necessary. The length of the extension depends on the court’s judgment.
Your Legal Rights
Despite its protective nature, a Financial Temporary Restraining Order doesn’t nullify the other spouse’s rights. They can request a re-hearing on the motion and ask for the order’s removal. Yet, they must respect the order’s terms until the court makes changes, as violations could lead to penalties.
If a Financial Temporary Restraining Order is issued against you, adhere to the order and seek immediate legal help. Consult with a lawyer who is a specialist in how to handle divorce cases to ensure your rights are protected.
You may want to review our ‘Messy Issues in High Asset Divorce’ to learn more about these complex asset dispute situations
Divorce can be a challenging time, especially when your financial future is a concern. In Illinois, a Financial Temporary Restraining Order can be a vital tool in protecting your assets. Both obtaining one and responding to one require understanding and skillful navigation of the legal system. That’s why it’s crucial to consult an experienced divorce attorney when dealing with these complex matters.
