Husband Selling Assets Before Divorce - Richard Roman Shum

From Law Office of Richard Roman Shum, Esq. - Husband Selling Assets Before Divorce examines how New York law addresses asset dissipation in Manhattan divorce cases, including what happens when a spouse drains accounts, hides property, or sells valuables for less than fair value. This podcast explores the protections built into Domestic Relations Law § 236(B)(5)(d)(12) and § 236(B)(5)(d)(13), and how Manhattan courts use those rules to preserve the marital estate and promote equitable distribution.

Listeners will hear how New York distinguishes marital property from separate property, why that distinction matters, and how assets such as real estate, retirement accounts, business interests, vehicles, bank accounts, and inherited property may be treated during divorce. The episode also covers Automatic Temporary Restraining Orders under DRL § 236(B)(2)(b) and 22 NYCRR § 202.16-a, explaining when they take effect, what transactions they restrict, and how they help maintain the financial status quo once a matrimonial action begins.

The podcast also highlights common warning signs and tactics tied to asset dissipation, including transfers to friends or relatives, undervalued sales of jewelry, artwork, and vehicles, suspicious withdrawals, hidden accounts, and financial manipulation through business entities. It discusses the role of forensic accountants, disclosure obligations under 22 NYCRR § 202.16, Statements of Net Worth, contempt issues raised by violations of court orders, and the remedies courts may use, such as reclaiming property, charging dissipated value against a spouse’s share, and awarding attorney fees and costs.

Featuring insight centered on Manhattan, New York City, the New York County Supreme Court at 60 Centre Street, and the work of Richard Shum, Esq., this episode presents a practical look at protecting your financial future during divorce. It reflects the client-focused approach of the Law Office of Richard Roman Shum, Esq., serving families from the Lower East Side and across NYC with guidance on property division, financial disclosure, and fast action when marital assets are at risk.

Law Office of Richard Roman Shum, Esq

20 Clinton St FRNT 5D, New York, NY 10002, United States

(646) 259-3416

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