Apart from the kid’s welfare, securing the assets and money during the process of divorce is immensely important. Assets are one of the crucial issues that you can protect as well as prepare for in the long-term before filing your divorce in the San Diego Courts.
If you have a feeling that your spouse is hiding money, and you think a divorce is necessary, then you must take precautions with your assets and finances in advance before filing for a divorce.
Because you, as well as your children, have to be financially secure until you can start or go back to work, that means you have to protect some portion of your spouse’s income regarding economic feasibility after the final verdict of your divorce.
Tips for Securing Your Assets During the Process of Divorce
Here are some smart ways to secure your money or assets when going through a divorce.
Open Private Bank Accounts
If you do not have a personal bank account apart from your spouse, open both checking’s as well as a savings account. You have to be sure to tell your spouse when you are planning to deposit and a figure of the amount that you will be deposited in the accounts. After informing these things, you will not be suspect of attempting to hide the community monies. (See Community Property).
Because once you file for your divorce, you need cash to pay Court fee, attorney’s fee, and monies for a new house to live. The best tip for you is not to file a divorce or separation when you do not have sufficient savings to pay legal fees and living expenditure to last at least three to four months.
Secure Your Valuables
If you are facing domestic violence or in an abusive relationship and believe that your partner will damage or hide valuable possessions, then protect them.
Keep in mind that any valuables which you have bought with the Community funds will have to be valued and divided during the process of divorce. All you need to do is protect your valuable assets without hiding the fact that the assets in your possessions. (Declaration of Disclosure)
While filing a list of marital assets through the Court, assure that you list any valuables you have removed from the house. Do not sell any valuables, because if you choose to do this, you will have to cover the money back in the settlement negotiations during the process of divorce.
Manage Important Documents Before Filing for a Divorce
Before filing for a divorce, you need to arrange proof of valuables as well as cash sources. It is best for you to take pictures of marital possessions. Apart from images, make photocopies of all investments as well as bank account statements. Keep all these documents and photos in a safe place away from your home.
Know the Importance of Retirement as well as Pension Account
The retirement fund is considered as couple’s major community asset. Educate yourself regarding the value of both your partner’s and your accounts as well as how they are split during the process of divorce according to the California Family laws.
There are several other tips regarding protecting your assets during the process of divorce. If you need more guidance and information, then you get a consultation by contacting the Law Office of Doppelt and Forney, APLC today at 800-769-4748. Discuss your case with our professional divorce attorneys in a 30-minute free consultation session.