Asset Protection and Freezing Orders Lawyer
In What Circumstances Will the Court Make a Freezing Order?
A judge could make a freezing order if they are satisfied that one spouse is about to sell or otherwise get rid of an asset with the intention of preventing the other spouse from receiving any financial benefit either in terms of money or asset ownership.
What Factors Will the Court Consider When Considering Whether to Make a Freezing Order?
- There must be solid evidence of an intention to get rid of the assets by one of the spouses
- You must show that refusing to make a freezing order would create a real risk of injustice. For example, if you are looking to freeze assets worth £250,000, but there is equity in the matrimonial home of £1 million, which you jointly own with your spouse so they cannot sell it without your agreement, your financial claims on divorce are likely to be fully met from the equity in the house, so a freezing order may not be necessary and for you to receive a fair share of the matrimonial assets
- The court will only agree to freeze assets to the value of your financial claim for divorce and no more
What Risks Are There Applying for a Freezing Order?
If your application for a freezing order is unsuccessful you could be ordered to pay your spouse’s legal expenses relating to the application, as well as your own. Therefore, these applications must be considered very carefully before they are made.
We’d recommend that you only take the step of applying for a freezing order after receiving legal advice from a trusted family lawyer.
You could have to undertake (promise) to the court to pay any costs incurred by your spouse or a third party as a result of the granting of a freezing order and to compensate anyone who incurs a financial loss as a result of the freezing order.
I Have Been Served with a Freezing Order – What Do I Do?
You need to seek urgent advice from a specialist matrimonial lawyer. Our expert team is available at any time that works for you to ensure you get the support you require during this stressful time.
You can reach out to our team on 0161 507 7145 or [email protected].
Worried That Your Spouse Is Getting Rid of Assets? We Can Help You
Getting divorced can be a very stressful time. When stressed, people can behave irrationally and act in ways they otherwise may not do.
This behaviour can include attempting to get rid of assets in the hope of reducing their spouse’s financial claims within the divorce, which could be reasonable grounds for seeking a freezing order.
If you are genuinely concerned that your spouse is about to transfer assets out of the jurisdiction or give assets to friends and family, and you have evidence to support this concern, you can apply for a freezing order, which will prevent your spouse from disposing of their assets.
For example, you can have bank accounts frozen. You can also freeze something that your spouse has not yet received, such as the proceeds of the sale of their property if a sale of the property has already been agreed upon and completion is to take place shortly.
Will a Freezing Order Cover Assets Abroad?
A freezing order can cover assets abroad, but only where the courts in the country where the assets are situated will cooperate with that freezing order.
Reach out to Our Specialist Freezing Orders and Asset Protection Finance Team Today
Family law matters can bring financial uncertainties, which can be very overwhelming. Our team of freezing orders and asset protection lawyers have extensive experience in financial matters, to help guide you along the way with confidence.
To chat with our team, call us on 0333 202 6433 or email us at [email protected].
