Divorce is never easy, and if you’re a man, losing your hard-earned assets in a divorce can make the entire process even more challenging. While it’s not uncommon for a man to worry about the security of his assets during a divorce, there are steps that can be taken to minimize loss and protect those assets.
Whether you’re currently going through a divorce or you’re just planning ahead, these tips will help ensure that your assets remain secure.
How can you protect your assets in a divorce?
A pre-nuptial agreement is a legal contract between two people who are planning to get married. It’s designed to protect the assets of both parties in case of divorce. By entering into a pre-nup before getting married, you can clearly define which assets are separate property and which would be subject to division in case you two decide to divorce.
Keep Accurate Financial Records
Accurate financial records can help you document all of your assets and minimize the chance of your spouse hiding your marital property or income. You can have statements and receipts, tax returns, and other financial documents that prove you’re the rightful owner of your assets.
Don’t Mix Personal and Marital Expenses
Avoid using separate finances for marital expenses or vice versa. Separate accounts can help you track which expenses are marital and which ones are personal. Mixing the two may make it hard to prove which expenses belong to the marriage and which ones don’t.
Protect Your Business
If you own a business that was established before the marriage, you might want to get a pre-nuptial agreement or a post-nuptial agreement to state that the business is separate from marital assets. Alternatively, you can protect your business by establishing an LLC to own and protect your assets.
Seek Legal Advice
When going through a divorce, it’s important to have an attorney to ensure all legal issues are managed. A seasoned lawyer can help you understand your legal rights and responsibilities and can suggest legal avenues to secure your assets.
If you are looking for divorce attorney in Tampa, Please contact The Law Offices of Robert M. Geller.