How to protect your assets during the divorce process in Brandon FL
The law is generally complicated, and the process of divorce or family law can be stressful, confusing, and expensive. We are here to help you through this challenging time with our experienced legal team to ensure your rights and protect assets from divorce in Brandon FL. Our lawyers offer a wide range of services in family law, including mediation, negotiation, arbitration, and litigation. Call us today for an initial consultation at no cost to discuss your case. At Myrthil P.A., we have decades of experience helping families through their most difficult times. We will help you get the best possible outcome for your case so that you can move on to building a better future for yourself and your children while protecting assets from divorce in Brandon FL.
Getting a divorce is not only emotionally draining but financially expensive as well. Therefore, it is essential that you know your rights and responsibilities regarding your money and protecting assets from divorce in Brandon FL.
What you need to know before starting the divorce process in Brandon, FL
So, if you’re getting divorced, here are some things to consider:
- Keep all your information updated: You must keep your asset and property information updated, including your address and contact information. This will help ensure that your spouse does not gain possession of any personal assets you may have acquired during the marriage and help protect assets from divorce in Brandon, FL.
- Review what property is yours: Review all of the property you own before filing for divorce. You should claim all property you own as “separate property” if acquired before the marriage. If you get divorced, your separate property will remain with you. Still, any income generated from them is generally shared between the two of you by default and helps you protect assets from divorce in Brandon FL.
- Keep what is yours safe: It is essential to keep a list of all your property and assets. This list should include bank accounts, securities, retirement funds, real estate, and business interests, along with any valuable personal property such as art or antiques.
- Protect your house: If you’re paying a mortgage on a home and wish to remain in it after the divorce, you should consider a postnuptial agreement or a separate property declaration to help protect assets from divorce in Brandon, FL.
- Keep all debts separate after the divorce: After your divorce, it is most important to keep any shared obligation with your ex-spouse and any jointly acquired assets as well. Otherwise, you will be required to pay half of it! In addition, if you are digging yourself out of debt during the divorce, you mustn’t incur any new credit card balances or take on other obligations to help you protect assets from divorce in Brandon, FL.
- Protect your retirement: Retirement accounts should be insulated before filing for divorce to ensure they remain yours after the marriage. This includes 401ks, IRAs, and pensions. This is one commonly forgotten area when you think of protecting assets from divorce in Brandon, FL.
- Keep all information confidential: The best way to help you protect assets from divorce in Brandon, FL, is to make sure that no one knows about it, especially your spouse. Thus, you mustn’t reveal any of this information during the divorce proceedings. This includes disclosing how much income you earn, the value of any real estate or other assets (such as cars or bank accounts) that you may own.
- Get legal advice early on: During the divorce process, it is essential that you consult with a lawyer to help you with protecting assets from divorce in Brandon, FL. Myrthil will advise you on how to proceed and make sure that everything remains safe.