How to Protect Your Assets During Divorce

Divorce can inflict some major damage on your financial well-being if you fail to take the proper steps to protect your assets. To ensure you safeguard your assets and your future, it is crucial that you hire a skilled divorce attorney to help you navigate the complexities of your divorce and to prevent you from making any costly mistakes that could affect the outcome of this process. You do not have to end up in financial ruin simply for ending your marriage.

Here is what you need to know about protecting your assets:

  • Gather all of your financial records from the past three years. Your attorney will be able to do this for you, but it would be more cost-effective for you to collect them yourself. The money you spend on legal assistance will be better spent in other areas.
  • Make copies of all pertinent financial records. This includes bank, investment, retirement accounts, and income tax returns for the past three years for both you and your spouse. Store these in a safe place he or she does not have access to.
  • Open a separate saving and checking account in your name alone. You should also begin to establish credit in your own name, so open a credit card account for yourself if you have not already done so.
  • Never mix any money you receive from an inheritance or as a gift with your marital funds.
  • Start making an inventory of any notably valuable items that belong to either you, your spouse, or both. This can include antiques, artwork, jewelry, firearms, boats, motor vehicles, or any other tangible property you deem valuable. If possible, take pictures and consider getting an appraisal of items you and your spouse cannot agree on splitting.

Family Law Attorney in Tulsa

If you are in the midst of a divorce, you will need a skilled and experienced legal advocate on your side to ensure your interests are protected. At Bundren Law Firm P.C., we understand that family disputes are emotionally overwhelming, which is why our Tulsa divorce team is dedicated to helping you achieve the best solution for you and your family. Our firm is ready to listen.

In addition to divorce, we provide representation for a wide range of family law matters, including guardianships, adoptions, child custody, and high asset divorce.

Do not hesitate to reach out to us today. Call our firm at (918) 992-3300 to schedule an appointment.

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