If you are someone who is going through the divorce process, you most likely know and understand that some of your assets may be up for grabs in the property distribution process. These assets can include your vehicle, your home, retirement accounts, and certain investments. If you are someone who has one or more significant investments, you must continue reading and reach out to our experienced Los Angeles divorce attorneys to learn more about managing your investments during a divorce and how we can assist you through every step of the process ahead.
Managing Your Investments During a Divorce
There are several steps you can take to help ensure your investments make it through your divorce. Some of those steps are as follows:
- Ensure you divide your taxable jointly-held investment accounts. If you believe that your spouse may make certain withdrawals or investments that you do not approve of, you should call the financial institution immediately and freeze the account until you can agree on how to best divide your assets.
- If you are not the spouse who makes investments, you may still be entitled to a portion of the assets held in those accounts. This is why it is so important that you and your attorney gain access to all documentation pertaining to your spouse’s investments, as these assets can be divided in the equitable distribution process.
- If you have one or more investment account, you should update your account beneficiaries. Beneficiaries are people who will receive your assets, and if you are getting divorced, you most likely don’t want your former spouse as a beneficiary anymore. Updating account beneficiaries and naming another party as a beneficiary can go a long way.
- Ensure you understand how retirement accounts are divided in your state. In many cases, one spouse will be entitled to receiving their spouse’s retirement benefits when the time comes.
Though divorce may complicate matters financially, the bottom line is that there are still several preventative measures you can take to effectively manage your investments and your financial situation as a whole. If you have any further questions or you are ready to get started, simply give our experienced California divorce attorneys a call today.
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.