Tips for Protecting Your Assets in a Divorce
Protecting your assets in a divorce is a very complicated and emotional issue.
Having a rock solid pre-nuptial agreement is the best way for both parties to protect their assets, at least what they're bringing into the marriage.
This may not be an issue if the two are of equal wealth, but if there is a large disparity, chances are there will be a problem.
It's a shame our legal system and divorce lawyers have forced otherwise rational and in love people, to think and squabble about something neither one of them wants, a divorce, but percentages bear out the distinct possibility it will occur.
Without a pre-nuptial one may as well decide the assets would be divided 50-50 even if it was 90-10 coming into the marriage.
Don't even consider fighting for a 60-40 split, because the lawyers' fees will eat up the extra assets you feel you're entitled to.
Unless it's a sudden revelation of an affair, the road to divorce is usually a long and stressful one.
If you're the one contemplating the divorce that should give you ample time to begin hiding and protecting assets.
It may sound deceitful, but as they say "all's fair in love and war.
" The first thing you'll need is a cash reserve.
When divorce papers are filed you will be required to attend a PDL hearing, where the judge decides who pays what (bills) until the divorce is finalized.
You'll also have to have money to personally survive on, such as rents, gasoline, clothes, cigarettes and food have to be paid for.
Begin taking a percentage of your paycheck, the largest amount possible without raising a red flag, and stashing it somewhere safe or with someone you trust, a family member.
You can open a checking account at a different bank, but be aware records can be subpoenaed in a divorce settlement.
If your vehicle is titled solely in your name consider transferring title to someone else, again family.
Title can always be transferred back after the divorce.
Without raising suspicions, begin removing any personal affects which have monetary or sentimental value.
If you're ordered to leave the house anything left there is fair game for the spouse to sell, destroy or hold hostage as a bargaining chip.
Bear in mind judges really don't want to listen to a bunch of petty bickering in court, they've heard it all.
So unless your dastardly deed of moving or hiding assets is so obvious and extreme a blind man could see it, the court will most likely dismiss any complaints from the other spouse without taking any action against you.
That doesn't mean go out and start selling joint property and forging your spouse's name, that's a whole different ball game you don't want to play.
Having a rock solid pre-nuptial agreement is the best way for both parties to protect their assets, at least what they're bringing into the marriage.
This may not be an issue if the two are of equal wealth, but if there is a large disparity, chances are there will be a problem.
It's a shame our legal system and divorce lawyers have forced otherwise rational and in love people, to think and squabble about something neither one of them wants, a divorce, but percentages bear out the distinct possibility it will occur.
Without a pre-nuptial one may as well decide the assets would be divided 50-50 even if it was 90-10 coming into the marriage.
Don't even consider fighting for a 60-40 split, because the lawyers' fees will eat up the extra assets you feel you're entitled to.
Unless it's a sudden revelation of an affair, the road to divorce is usually a long and stressful one.
If you're the one contemplating the divorce that should give you ample time to begin hiding and protecting assets.
It may sound deceitful, but as they say "all's fair in love and war.
" The first thing you'll need is a cash reserve.
When divorce papers are filed you will be required to attend a PDL hearing, where the judge decides who pays what (bills) until the divorce is finalized.
You'll also have to have money to personally survive on, such as rents, gasoline, clothes, cigarettes and food have to be paid for.
Begin taking a percentage of your paycheck, the largest amount possible without raising a red flag, and stashing it somewhere safe or with someone you trust, a family member.
You can open a checking account at a different bank, but be aware records can be subpoenaed in a divorce settlement.
If your vehicle is titled solely in your name consider transferring title to someone else, again family.
Title can always be transferred back after the divorce.
Without raising suspicions, begin removing any personal affects which have monetary or sentimental value.
If you're ordered to leave the house anything left there is fair game for the spouse to sell, destroy or hold hostage as a bargaining chip.
Bear in mind judges really don't want to listen to a bunch of petty bickering in court, they've heard it all.
So unless your dastardly deed of moving or hiding assets is so obvious and extreme a blind man could see it, the court will most likely dismiss any complaints from the other spouse without taking any action against you.
That doesn't mean go out and start selling joint property and forging your spouse's name, that's a whole different ball game you don't want to play.