Financial details are one of the biggest single sources of contention when it comes to filing for divorce. If you are in a position where you feel as though your spouse may be considering divorce or if you are considering it yourself, there are some things that you should do to protect your financial position. Here's a look at a few things you should know before the divorce papers get filed.
You Need A Lawyer
If you have any reason to suspect that your spouse might file for divorce or if you are thinking about a divorce yourself, the first thing that you should do is retain a divorce lawyer. You might think that you and your spouse could amicably settle things on your own, but it's still in your best interest to work with an attorney for legal guidance and support.
Paperwork Is A Priority
One of the biggest reasons that it's important to be proactive when you believe that you might be facing a divorce is because you need time to get the necessary paperwork in order to protect yourself financially throughout the divorce. One of the most common problems that couples encounter during a divorce is a disagreement over the settlement of assets and cash. Even if you believe that your partner isn't the type to hide financial assets, you still need to protect yourself.
Additionally, you'll need copies of bank statements, investment account details, and the details of all of the other marital assets and debts to complete financial affidavits during the divorce proceeding. If you move out of the marital home, you won't have easy access to some of this information, so you'll want to work with your lawyer to determine what you'll need and to have a safe place to store the information.
Inaccuracies Should Be Addressed
When you do finally receive or file the divorce papers, it's important that you review your spouse's financial affidavit carefully. Make sure that everything is included. If anything seems like it's off, even if you're simply feeling as though they were spending money beyond their means based on their last tax returns or if you think that they have savings that aren't disclosed, talk with your lawyer.
Your attorney can hire a forensic accountant to evaluate the financial affidavit and your spouse's financial records to determine if there are any undisclosed assets that should be accounted for. This ensures that you are treated fairly in the settlement.
Talk with a divorce lawyer from a firm like Cooper Levenson Attorneys At Law for more information and to see what other information you need to gather before you file.