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You can protect yourself and your assets in divorce

Protecting your property probably isn't on the forefront of your mind when you've just gotten married. However, if you do end up having to go through a divorce, taking steps to protect yourself now can help in the future.

What's the first step to take in a marriage?

A prenuptial agreement is the first and potentially most important step. It helps determine where money will go in the event of a divorce and can keep certain assets separate. It can protect you or your spouse from each other's debts or protect your own profits and income.

What should you do if you don't have a prenuptial agreement?

You can still get through a divorce without a prenuptial agreement. You'll want to collect as many of your financial records and documents as possible. Titles, deeds, lines of credit, tax returns, banking information and other records all need to be given to your attorney, so you can fully disclose all your assets for the court.

Are there any tips for contentious divorces?

If you're in a situation where you're worried a bank card could be cancelled or a credit limit closed, take out enough money for a few nights at a hotel or enough for a month of rent. You should have enough for meals and personal items, too. Having enough to cover a few months of house payments if you're living in a home is wise, too. Keep this separate, either in cash or in your own private account.

These are just a few ideas for protecting your property; our website has more information to consider.

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