If you are someone who is currently going through the divorce process, you most likely have a lot on your mind. One of the most critical divorce-related issues is asset division. In most divorces, if a prenuptial agreement is not established, both spouses’ assets will enter the equitable distribution process, wherein a court will determine who gets to keep which assets. In many cases, the distribution of assets is uneven, and not 50/50, which is why so many couples are worried about what will happen to their wealth in a divorce. Fortunately, there are certain things you can do to protect what is rightfully yours. Please continue reading and reach out to our experienced Los Angeles divorce attorneys to learn more about protecting your financial assets from a divorce.
Protecting Your Financial Assets From Divorce
Some of the most important actions you can take to protect your financial assets from your divorce are as follows:
- Retain quality legal representation: Hiring a knowledgeable California divorce attorney can make all the difference when it comes to preserving your assets. Our firm also has a unique financial background, allowing us to go the extra mile when helping our clients through the financial aspects of divorce.
- Open up your own credit card and monitor your credit score: To avoid financial disputes, you should strongly consider closing your joint accounts and opening your own credit card. Further, you can expect to need your credit card after your divorce, as you will have to manage your finances on your own, which is why you should very closely watch your credit score to ensure you are in good standing.
- Gather all documentation concerning your financial situation: When it comes to equitable distribution, courts will need to see all of you and your spouse’s financial assets during discovery. This allows them to distribute your assets in what they consider to be an equitable fashion. Further, omitting, hiding, or even accidentally forgetting to submit certain assets can launch an investigation by the IRS, resulting in serious complications. Do not let this happen. Ensure you submit your assets honestly and completely. Our firm can help ensure you do.
If you have any further questions or you would like to speak with one of our attorneys, please do not hesitate to contact us online or give us a call today. We are here to help you in any way we can.
Contact our experienced Los Angeles firm
Divorce and family law issues are notoriously complicated and personal, which is why you must hire an attorney with years of experience, as well as the compassion and skill needed to handle these sensitive matters. For the qualified, dedicated legal representation you and your family deserve and need, contact Zitser Family Law Group, APC today.