If you are struggling in your marriage you might be considering getting a divorce. Before you start the divorce process there are some things that you should do to make sure that you are protected. If you wait until everything has blown up to start taking precautions to protect yourself you could be in serious trouble. Here are some things you should start doing now to make sure that you are prepared for the divorce.
1. Get Your Finances In Order
A divorce is incredibly stressful on your life for a variety of reasons. It is emotional to end a relationship, it is physically exhausting and it is financially difficult. Don't make the mistake of ignoring your finances until you actually start the legal process for a divorce. Instead, you should open a checking account and a credit card in your name only. There will be a lot of expenses that will build up and you personally will be responsible for them. In addition, if all of your money is tied up in joint accounts it will make it harder to access. So start putting aside money that your spouse can't access by having it in a personal account. This will also help you pay the legal fees for a divorce.
2. Change Your Estate Plan, Retirement Plans, and Life Insurance
While you were married your spouse was probably the named beneficiary on your estate plan, your retirement accounts, and the life insurance. Although it is not likely, it is not unheard of to have something happen during the divorce. A divorce can take months to years to resolve and consider if you were in a car accident or in some tragic accident during that time. Your spouse would get all of the money from your life insurance, or even worse they may be the named power of attorney to make all of your medical, financial and legal decisions. Don't let an estranged spouse have that kind of power. Change your documents right away.
3. Take Inventory Of Personal Property
You probably acquired a good deal of joint property while you were married, and that property will have to be divided during the divorce. But if you have any personal property you need to have that inventoried and documented. This way you can ensure that it is left to you rather than is included in the divorce.
By doing these things you can protect yourself during a divorce. For more information concerning divorce legalities, contact businesses like Nelson, McPherson Summers & Santos LC.Share
4 January 2017
While I took a few business classes in college, I left early to start my own business. I thought I had the knowledge I needed to become a great business owner and was eager to start my business. Soon, I had a new business that was actually performing pretty well in sales. Unfortunately, I hadn't taken any law courses in college, and I soon realized I made a few mistakes when starting my business that could cause me some legal trouble. Thankfully, a great business lawyer helped me correct my mistakes before I had any legal problems, but I then decided to take those business law courses. I want to help business owners and anyone else who would like to learn more about the law by starting a blog where I will share what I have learned and will continue to learn. I hope I can help you!