Divorce is undoubtedly expensive. It’s hard to estimate how much a divorce will cost you because costs go far beyond hiring a lawyer and can affect everything from your utilities and insurance to mortgage payments.
Here, our domestic family investigations expert discusses some ways to protect your money in a divorce:
1. Change beneficiaries
Spouses usually name each other as beneficiaries on wills, trusts, insurance policies, etc. By changing the beneficiaries on your accounts, you can safeguard your money. Do this as soon as you can.
2. Build your own credit and close joint accounts
If you need to pay off an outstanding balance on credit cards before the accounts can be terminated, go ahead. If you’re not able to, get in touch with your credit card company about limiting the accounts for future spending while you work to pay the existing balance. This will help safeguard you from being liable for any more of your former partner’s spending. You should also work on building your own credit by opening up a credit card under your name only. This can be especially important if you’ve never had a credit card before and want to purchase a car or apply for an apartment.
3. Don’t hide assets
Well, this can backfire on you. If you’re caught concealing assets, you’ll be left with a loss of credibility with the court, monetary fines, and other penalties you wouldn’t want to pay. Being truthful about your assets right from the beginning will help you safeguard your money in your divorce.
4. Talk to a professional
Having the right information can help you keep your money safe throughout your divorce. While a family law attorney can provide you with legal guidance in your case, other professionals like private investigators, CDFA (certified divorce financial analyst), and CFP (certified financial professional) can offer advice specific to protecting your money throughout the divorce process.
5. Know the laws of your state
Get to know as much as possible about the divorce laws in the state where your case will be handled. These laws may significantly impact how you can defend your money in your divorce.
Hire a private investigator from JP Investigative Group for high-quality domestic family investigations
Get an investigator charlotte nc from JP Investigative Group. Don’t take your own investigation over the line of what’s acceptable. This can be risky and easily turned on you through, for example, stalking accusations. Plus, it’s way more traumatic to see the infidelity yourself than to get someone else to do it on your behalf.
Get in touch with JP Investigative Group’s best private investigator nc today; they’ll offer you peace of mind that could be totally worth it.
About the Author
Lorenzo D. Brown is a renowned family lawyer with more than a decade of experience. While he’s still overseeing a plethora of domestic cases, he also writes informational blogs in his free time to educate his audiences.
