How to Protect Assets Before a Divorce

If you and your spouse have talked about getting divorced, or if you’ve been considering the possibility on your own, you’re probably feeling very overwhelmed. Divorce is one of the most difficult things that a person can endure, so it’s only natural that you’d be dealing with a number of emotions right now. While it’s certainly important to process your grief and take care of your own mental health, this is also the time to start planning for your financial future. You need to make sure that you’ll have the means to support yourself once your divorce is finalized. Here are a few steps that you can take to protect your assets before a divorce:

• Review your current assets. This is especially important if your spouse is the one who always looks over bank statements and pays the bills. You need to have a good sense of where your assets stand so that you can predict how much you’ll be left with after a divorce. This will also help you detect whether your spouse is trying to hide assets in preparation for a divorce. (If you suspect that he or she is doing so, it’s important to speak to an attorney about your concerns, since this might constitute fraud.)
• Make copies of important documents. This might include wills and trusts, insurance policies, bank and credit card statements, tax returns, deeds and registrations, and anything else that could pertain to separate or joint assets. You’ll want to have these papers handy when you need to reference them at a later time.
• Create an inventory. Make a list of household items, paying particular attention to ones that may have a high value, such as electronics and heirlooms. It will be much harder to remember this information down the road if your spouse takes any of these items when you separate. You might also want to consider taking photos of more valuable items.
• Begin researching financial experts. If you and your spouse proceed with a divorce, there’s a good chance that you’ll need to hire an expert to help sort through your finances, especially if you and your spouse have a considerable amount of assets. Your divorce attorney may also be able to recommend a financial expert.

Skilled Divorce Attorneys Representing Clients in Tampa Bay

In addition to taking the steps listed above, it’s also a good idea to hire an experienced divorce attorney who will be able to advocate for your interests throughout the divorce proceedings. If you’re in the Tampa Bay area, you can turn to the Law Offices of Audrey A. Jefferis, P.A. Contact us today to schedule a consultation at our main office in New Port Richey or our satellite office in Palm Harbor.