Manhattan Property Division Attorney Richard Roman Shum Addresses Asset Dissipation During Divorce

The Law Office of Richard Roman Shum, Esq is drawing attention to a growing concern among divorcing couples: the improper disposal of shared assets before divorce filings. As a seasoned Manhattan property division attorney, Richard Roman Shum (https://www.romanshum.com/blog/husband-selling-assets-before-divorce/) is helping clients understand the legal consequences of asset dissipation and how to protect their financial rights under New York law.

Asset dissipation-when one spouse secretly sells, transfers, or undervalues marital property-can severely impact equitable asset distribution in a divorce. A Manhattan property division attorney plays a critical role in identifying these behaviors and taking timely legal steps to prevent financial harm. Richard Roman Shum underscores the importance of swift legal action to stop the transfer or devaluation of shared assets, explaining that "judges look closely at last-minute garage sales, quiet wire transfers, or sudden 'loans' to friends."

As a Manhattan property division attorney, Richard Roman Shum has seen firsthand how such actions can unfairly shift the financial outcome of a divorce. The article notes that New York courts take deliberate dissipation seriously. Whether it's selling a car for half its value or quietly draining a joint account, judges often view these behaviors as bad-faith attempts to deny the other spouse their fair share of the marital estate.

Richard Roman Shum, a lifelong Lower East Side resident, brings local knowledge and years of litigation experience to every divorce case. His approach focuses on clear, pragmatic strategies that seek fair and timely outcomes without unnecessary conflict. He represents clients in disputes involving homes, retirement accounts, businesses, and other complex assets, always prioritizing practical solutions grounded in legal precision. "Richard Roman Shum delivers highly tailored strategies that aim for swift, fair resolutions," the article states, reinforcing his focus on minimizing emotional and financial strain for his clients.

New York's equitable distribution law, which aims to fairly divide marital assets regardless of who holds title, can be undermined if one spouse acts unilaterally to sell or hide assets. Courts may respond with strong remedies. If assets have been sold illegally, the court can reverse the transaction or subtract the asset's value from the offending spouse's share. When assets can't be recovered, financial compensation or an adjusted division of remaining property may be ordered.

To prevent such outcomes, clients are encouraged to watch for red flags. These can include sudden drops in account balances, uncharacteristic business activity, or the appearance of hidden bank accounts. In complex cases, a forensic accountant may be brought in to trace and value missing or misrepresented assets. Working with a Manhattan property division attorney like Richard Roman Shum provides divorcing spouses with the legal knowledge and resources to pursue justice.

New York law also offers immediate protection through Automatic Temporary Restraining Orders (ATROs), which activate upon the filing of a divorce summons. These orders bar both parties from transferring or hiding assets, and violations can lead to court sanctions. According to the article, "violating these rules risks a contempt finding and sanctions," underlining the strict enforcement courts apply during this process.

Legal remedies can extend beyond the return of assets. Dissipation can influence alimony and child support calculations, often leading to higher payments for the spouse affected by the loss. Courts may also penalize the offending party with fines, adjusted settlements, or even orders to pay legal costs.

By helping clients document questionable transactions and secure financial disclosures, Richard Roman Shum actively protects the integrity of the marital estate. His work reflects a commitment to financial fairness and legal accountability, essential components of New York's divorce framework.

Proactive legal action is critical in any divorce where one party may be hiding or selling shared assets. Richard Roman Shum provides support through each step of the process, ensuring that his clients' interests are upheld under New York's equitable distribution standards. He also emphasizes that asset protection starts early-before suspicious activity escalates into irreversible financial loss.

Anyone concerned about asset dissipation during a divorce can benefit from consulting Richard Roman Shum. His team works quickly to freeze accounts, document activity, and petition courts for protective orders when needed. His measured approach and deep understanding of Manhattan's legal landscape make him a trusted ally in high-stakes property division cases.

Clients navigating divorce can find assurance in knowing they are not powerless in the face of financial misconduct. New York courts offer a structured, enforceable system to handle these issues, and with legal help from the Law Office of Richard Roman Shum, Esq, fair outcomes are achievable.

Those seeking legal advice about potential asset dissipation before or during a divorce are encouraged to take immediate steps. Document suspicious financial activity, consult a trusted legal professional, and consider whether court intervention may be necessary. Richard Roman Shum is prepared to help clients act decisively to safeguard their assets and financial future.

About Law Office of Richard Roman Shum, Esq:

The Law Office of Richard Roman Shum, Esq, is based in New York City and focuses on family law, including property division during divorce. Richard Roman Shum is a Manhattan property division attorney dedicated to helping clients achieve fair and equitable outcomes under New York divorce law. With a strong emphasis on clarity, client advocacy, and practical legal solutions, the firm serves individuals across diverse communities with professionalism and care.

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Email: richard@romanshum.com

Website: https://www.romanshum.com/

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