Three Tips for Protecting Your Assets During Divorce

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Three Tips for Protecting Your Assets During Divorce

Three Tips for Protecting Your Assets During Divorce

If you signed a solid prenuptial agreement, you likely have nothing to worry about now that youre divorcing. If you didnt, youre probably sweating bullets and hoping you come out on top of the financial heap. Here are three ways to protect your assets until your divorce is finalized. 1. Resolve Outstanding Joint Debt Its time to resolve your outstanding joint debt accounts. Take inventory of the accounts, including credit cards, mortgage payments and other monthly bills and pay them off now. If you cant close them, ensure that responsibility is divided and the assigned debt is outlined in your final divorce papers.

2. Hire a Watchdog Keep track of the accounts to ensure that your ex-spouse is making his or payments. Confirm the payments via telephone or online and hire a credit monitoring service to alert you of any negative activity being noted on your credit report. 3. Separate the Assets Close joint bank accounts and other financial holdings and divide the proceeds. Both of your names are on these accounts, so your soon-to-be ex-spouse could easily wipe them out and leave you empty-handed. Close the accounts, divide the dough and move on.

Protecting your assets during your divorce is crucial, especially if you did not sign a prenup prior to your union. Ensure your finances remain sound by hiring a qualified divorce lawyer in Rancho Bernardo divorcees trust, click here