Asset protection during the divorce process
It is not uncommon for a person to be worried about what will happen to one’s assets during divorce. Some people are afraid they will lose everything to their former spouse, thus leaving them in a difficult position. As a result, they opt to stick with the marriage because they don’t know what the future will bring if they divorce.
Asset protection in divorce can give you the peace of mind you deserve. This will ensure that you feel better about your assets and how they will be handled.
Generally speaking, any assets acquired by a spouse before marriage is considered separate property. This will not be subject to division.
There are also assets acquired during the marriage. These are the assets that the court takes into consideration when it comes to matters of property division. For example, if you purchased a home or vehicles with your partner, these will be subject to division.
With a combination of community and separate property, you may have questions regarding what’s to come. You understand that you won’t get to keep everything, however, you may not fully understand which strategies you can follow to protect what is rightfully yours.
If you have questions about asset protection during the divorce process, don’t hesitate to contact us for additional information and advice. We are available to answer your questions and provide guidance that will eliminate some of your stress.
It is never easy to go through divorce. Additionally, you know that things can get tricky when it comes to matters of asset protection. Reach out to us online or via phone for help.