Financial Matters and Your Divorce

As a man it is important to protect yourself in divorce, especially in financial matters.  Below are a variety of items to have in order for discussions with your divorce attorney regarding your financial status.

Documents

Gather your financial documents.  You should take time to pull of your financial documentation together and move it to a safe location.  Make copies for your attorney to review as well.  Understand that your wife will be trying to gather the same documentation and will be going through every document she can to help gather information on your finances as well.

Bank Accounts

Collect the information together regarding bank accounts that are not only in your name but in your spouse’s name and children as well.  Don’t do anything rash with the money in your accounts before you speak with your divorce attorney.  If you have several joint accounts it is important that you discuss dividing the accounts between the two of you before your divorce is finalized.  No matter what you do don’t deplete the finances that support your family.  This will not look favorable when a judge is reviewing your case.

Credit Cards

Any joint credit cards should be closed to ensure that your spouse doesn’t go on a spending spree that leaves you responsible for half.  Close joint credit cards and notify the credit card companies that you are no longer responsible for credit cards held in your spouse’s name.

If you need credit cards it is crucial that you open new accounts with only your name on them.  These new accounts should not be linked to your old accounts or spouse in any way.

Insurance

If you are the spouse with insurance it is not appropriate to drop your spouse or your children until you have met with your divorce attorney and a judgment has been put into place by a judge.  You are the responsible party for all medical bills until your divorce is finalized and even after sometimes you may decide to keep your children and ex covered.  If you are still going to be held liable for medical expenses in your child support and alimony agreements you may decide to continue coverage.

Inventory

Take inventory of the valuables within your household.  If something within the house is of great sentimental value and you are moving out before the divorce is finalized speak with your divorce attorney about removing it.  You will want to ensure that anything of value or sentimental value is documented in the eyes of the court before selling, splitting or removing them from the house.

Longton DM, a subsidiary of Longton Law Offices is a divorce attorney specializing in Men/Dad’s in divorce.  For experienced representation throughout the divorce process in Trenton, Michigan and the surrounding area you can find more information at http://www.michigandivorcelawyerfordad.com.

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