How to Protect Yourself Financially in a Divorce
#16970 (In Topic #2850)
Protect yourself and your assets from unfairly going to your soon-to-be ex-spouse.
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3 October 2008
Breaking up is hard to do, any way you look at it. However, coping with the financial consequences of a divorce can be harder than healing your broken heart. You need to be prepared to protect yourself and your assets from unfairly going to your soon-to-be ex-spouse. Here is how.
You dreamt of a happily-ever-after ending, fairy tale style. However, you live in a real world where divorce happens fifty percent of the time in all marriages. Thus, before you set your Townsend pen on your marriage contract, use the same pen on a prenuptial agreement. This might seem cold-blooded, but it will be your guarantee that divorce settlements have virtually been agreed even before it happens!
If a prenuptial agreement was out of the question, then you need to determine the things given to you during your marriage. Put your Cross pens to use by listing these down - gifts, inheritance, and family heirlooms - and remember when these were given to you, if possible. You also need to list the assets that were in your name before the marriage.
Identify Your Conjugal Properties
In another list, write down the conjugal properties. These are any and all properties acquired during the marriage using joint funds. This list is very important since the division of properties usually involves the marital assets; you need to secure a fair share of these assets considering that you worked for them, too.
The importance of adequately, if not thoroughly, documenting all your assets cannot be overly emphasized. You stand a greater chance for a fair division when you have documentary evidence to present to the court; legal papers, pictures, gift tags, and the like are hard evidence as against oral agreements. Nothing beats that!
If you have small but priceless items in the house, take out your camera and take pictures. You can label these if you want, which will thwart your soon-to-be ex-spouse's claims that the said items are non-existent.
Store any documentary evidence you can find for your marital properties, both tangible and intangible assets, in a secure place. If possible, you can lock them away in a safety deposit box in the bank. This way, nobody can tamper with the documents.
This does not mean that you have to move out of the house, far from it. You need to remove personal items, especially the expensive ones, to a safe location outside your conjugal home. Remember that your soon-to-be ex-spouse can stake a claim to your personal property once you fail to remove it within 24-48 hours. Sad but true.
It is highly recommended that you subject the marital assets to an appraisal. This might send you back a pretty penny, but it will be worth it. You will have a better idea of the value of your marital properties, which is essential to the division of assets.
Look for an Attorney
Of course, you can always opt for a do-it-yourself divorce . However, divorce can be a complex thing that only lawyers can adequately handle. Also, letting someone else attend to the intricacies of the law allows you more time to grieve for a failed marriage.
Signing your divorce papers is as much your choice as signing your marriage contract. The unfortunate thing is that your happy choice can transform into a sad choice. Again, sad but true.
For the writing and signing needs during a divorce , opt for high quality pens like Cross pens or a black Townsend pen. For those business cards that will be given to prospective divorce lawyers, store these securely in a pocket business card holder. All these are available at ExecutiveGiftShoppe.com in various models. Visit them now!
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