Although divorce is the result of roughly one in two marriages in the country, it is by no means an easy or simple proceeding for those involved. While the public perception of divorce sees the action primarily as the severing of romantic ties between individuals, it’s important to understand that it also severs the financial partnership forged though the institution of marriage.
If not handled carefully by an experienced divorce attorney, divorce proceedings can have devastating consequences on the finances of either party involved. Because of this risk, it’s imperative to avoid rushing through the separation process no matter how emotionally taxing it might appear to be. Here are some important guidelines to follow if you wish to keep your finances secure for life after the divorce.
1. Pay Close Attention To The Location Of All Accounts
Do not trust your spouse to honor whatever verbal agreements you might have made in preparation for the separation. Although you may have mutually agreed upon the division of assets outside of a legal environment, it is our family law attorneys' experience that having complete confidence in the autonomy of one’s accounts, debts, liabilities, assets, and property is paramount to ensuring your finances are retained in full after the divorce is finalized.