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How to Protect Yourself Financially in a Divorce

Breaking up is hard to do, no matter how you look at it. However, dealing with the financial consequences of a divorce can be more difficult than healing your broken heart. You must be prepared to protect yourself and your assets from wrongfully going to your future ex-spouse. Here is how.

Prenuptial agreement

You dreamed of a fairy tale style with a happy forever ending. However, you live in a real world where divorce occurs fifty percent of the time in all marriages. Therefore, before placing your Townsend pen on your marriage contract, use the same pen on a prenuptial agreement. This may seem cold-blooded, but it will be your guarantee that the divorce agreements have practically been agreed upon even before it happens.

Keep a record

If a prenuptial agreement was out of the question, then you need to determine the things that were given to you during your marriage. Use your Cross pens by listing these (gifts, heirlooms, and family heirlooms) and remember when they were delivered to you, if possible. You must also list the assets that were in your name before the marriage.

Identify your marital properties

On another list, write down the marital properties. These are each and every property acquired during the marriage using joint funds. This list is very important since property division generally involves marital assets; you need to secure a fair share of these assets considering that you also worked for them.

Document, Document

The importance of adequately, if not exhaustively, documenting all of your assets cannot be overemphasized. You have a better chance of a fair division when you have documentary evidence to present to the court; Legal documents, photographs, gift tags and the like are strong evidence against verbal agreements. Nothing better than that!

If you have small but priceless items around the house, get out your camera and take pictures. You can tag them if you like, which will thwart your future ex-spouse’s claims that such items don’t exist.

Keep all the documentary evidence you can find of your marital property, both tangible and intangible assets, in a safe place. If possible, you can keep them in a safe at the bank. In this way, no one will be able to alter the documents.

Move move

This does not mean that you have to move away from home, far from it. Personal items, especially expensive items, should be taken to a safe place outside of your marital home. Remember that your future ex-spouse can claim your personal property once you do not remove it within 24-48 hours. Sad but true.

Market assessment

It is strongly recommended that you have your marital property appraised. This may pay you back a penny, but it will be worth it. You will have a better idea of ​​the value of your marital property, which is essential for asset division.

Find a lawyer

Of course, you can always opt for a divorce on your own. However, divorce can be a complex thing that only attorneys can properly handle. Plus, letting someone else deal with the intricacies of the law gives you more time to grieve over 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 turn into a sad choice. Again, sad but true.