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Tips for protecting your money in a divorce

Preparing for a divorce takes time. It also takes a lot of willpower to admit that your marriage is no longer viable. There's plenty you need to do to prepare for a divorce and one important item is protecting your money. Even if you believe your spouse won't seek a lot of your money it's still a good idea to protect it before you file. Follow the tips in this post to protect your money in a divorce.

One of the most important things you can do to protect your money in a divorce is to open financial accounts in your name only. If you believe that your marriage is coming to an end it's best to open individual accounts as soon as possible. Stop putting money into joint accounts with your spouse. Have your paycheck deposited into your new, individual account, so your spouse does not have access to it any longer.

Be sure to inventory all of the assets and debts that you and your spouse have. Do this for joint and individual assets and debts. You will want to know ahead of time what type of financial situation you are dealing with once the divorce filing occurs.

Prepare yourself now to share the retirement accounts you and your spouse have. Even though it might be just your name on the account, it doesn't mean it won't be shared. It's very possible that the account will be viewed as marital property.

Are you preparing to file for divorce in Fort Lauderdale? Protecting your money in a divorce is very important. Speak with an experienced family law attorney today to find out what you can do to protect your money.

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