James R. Schaffer, P.A.

Protecting financial interests before a divorce

| Sep 16, 2020 | Divorce |

The end of a marriage often results in a financial shift for both parties. Once the decision is made to move forward with divorce, it is then important for a Florida spouse to take steps to protect his or her financial interests. Preparing for divorce can allow someone to pursue a strong future after this process is final. The time is now to protect assets and look to shield long-term interests.

Securing your financial situation

An important step is to secure appropriate and knowledgeable legal counsel. This guidance can prove invaluable as a spouse is making financial decisions that will affect him or her for years to come. Another beneficial step is to start monitoring credit reports, making sure the other spouse is not applying for loans or accumulating a significant amount of debt during a time of separation.

While safeguarding assets and protecting financial interests, it is also helpful to keep things on friendly terms with the other spouse. Working together may help save both time and money on a final property division settlement. Even in situations where the two parties are amicable, it is still critical to look at the long-term financial implications of any decisions made.

The time to start protecting financial interests is before the divorce process is underway. Before filing or at the beginning stages, a Florida spouse can benefit from the guidance of an attorney experienced in complex asset division. An assessment of the individual case can provide insight regarding what steps are necessary to shield long-term interests and secure terms that will provide security and stability for years to come.