Divorce is rarely a clean and amicable process. Feelings may get hurt at a certain point as pain, anger, and regret all combine together to create an emotional roller coaster of a ride for the couple. Some even use divorce as a means of revenge and making sure that the other party suffers. As nasty as it may sound, divorce sometimes brings out the ugly side of people. This means you must always go the extra mile in protecting yourself, your kids, and your assets while going through the process of divorce. Here are some tips on how to protect your assets in divorce.
Protecting Your Assets
- You want to handle everything in a legal way. Consult with your lawyer to go over the laws in your state, especially those that concern property division. Share the specifics of your case so the appropriate actions can be taken.
- Keep a camera with you. This will come in very handy during your divorce. First, make a list of all your personal items that you have received or obtained both before and after your wedding. When making your inventory, take photographs of those items before you relocate them. Make a list of which valuables belong to you and which ones you share with your spouse. Examples of such items are heirlooms, artworks, collections, antiques, sports and hobbies equipment, cars, and boats. After you've made your list, take your personal items with you and keep them at a location that is inaccessible to your spouse.
- Know your rights, especially those concerning your place of residence. If there has been no restraining order filed against you which prohibits you from entering your home, by all means you can still enter your home to take anything that rightfully belongs to you.
- Some assets will need to be professionally appraised in order to guarantee that the division of assets is done fairly. You can employ the services of a professional appraiser to handle all your shared assets and to provide valuations for items such as antiques and jewelry pieces. If your spouse runs a business, the business will have to be appraised as well. Even your retirement plans will be appraised in some cases.
- Community property will also be appraised. Examples of community property include your home, cars, sports vehicles, and other items that you and your spouse own together. Division of property should be done under the guidance and advice of your divorce lawyer. Understand that your divorce lawyer is acting in behalf of your interests and is mapping at the most effective strategy for protecting all your assets.
- You can also hire an accountant to help you prepare and organize your business records.
Getting Help
The best answer to how to protect your assets during divorce is to hire an experienced family law attorney. Your attorney can provide you with information on the laws in your state and can give you the help and guidance required to get the fairest divorce settlement possible.
