Protecting Your Assets: Precautionary Measures Before and During Divorce

Divorce proceedings can not only have an impact on your emotional well-being, but your financial well-being making it crucial that you take proactive steps to protect your assets. By implementing strategic measures throughout and before a divorce, you can protect your finances and ensure a secure future. Here are some strategies to consider:

1. Open Individual Accounts: You should have an individual bank account and credit card in your name only. This can help you to establish financial independence and ensure access to funds during the divorce process. 
2. Understand Your Legal Rights: Familiarize yourself with your rights regarding marital property, debt allocation, and spousal support to make informed decisions during the negotiation process.
3. Secure Valuables and Personal Property: Consider storing valuable items such as jewelry and important documents to prevent disputes over their division in the negotiation process. 
4. Documenting and Organizing Financial Records: Gather any financial records you have such as bank statements and tax returns so that you can get a good view of your assets and liabilities. 
5. Consider Mediation: Mediation is often a good alternative to traditional litigation because it can help to facilitate fair asset division. 

Let me be your financial advocate as you navigate the divorce process. As a Certified Divorce Financial Analyst, CDFA® I can help you avoid costly mistakes and educate you on current and future budgets, provide a financial road map, and help you understand what assets you have, what you spend, where you spend it, and more.

You don't have to go through this alone.

Contact me today at 716-800-4290 to schedule your first appointment.