How to Keep Your Assets Safe during Divorce
Once the two spouses have decided to divorce, the real fight between the two spouses will be centered on the division of their assets. Assets are the most hotly contested aspects in a divorce after child custody. Spouses are willing to go through leaps and bounds to protect their assets during divorce proceedings.
This article outlines some of the ways how you can keep your assets safe during divorce while your family lawyers in Texas fight out your case.
Keep Your Separate Property Separate
Not all the assets you own are part of the divorce proceedings. There are certain assets such as those that you receive in gifts, have inherited or owned prior to your marriage that are kept safe from divorce proceedings. Unfortunately, separate property can also be dragged into the divorce proceedings if you aren’t careful. Using money earned as part of your married life for the upkeep of your separate property, can drag it into the divorce proceedings. Make sure you keep both things separate from one another.
Keep the Original Asset Documents with You
Sometimes spouses can try and cheat the other spouse by transferring marital assets to a third party only to avoid them divided up as part of the divorce proceedings. To protect your assets from such a state, you need to keep all the original asset documents in your name at a safe place, make sure you maintain a list of the assets in the marriage and are quick to point any discrepancy made by the other spouse in the declaration of their assets to your lawyer.
Move Your Personal Property Someplace Safe
Assets not only include real property such as homes, lands, condos and cars etc. They are also made up of personal property such as furniture, watches, jewelry, books, paintings, decoration items, etc. All of these assets are at a risk of being stolen or destroyed by an angry spouse. If the items matter to you, keeping them some place safe, before their fate is decided by the court is the best way to go about it.
Hide Your Assets
Some people can often resort to hiding their assets in a bid to keep them safe from a divorce. Unfortunately, this is something can result in extensive fines and penalties being imposed on the defendant if found out. Refrain from using this method to protect your assets.
The simplest way to protect your assets is to hire a competent divorce lawyer in the state of Texas. If you live in the Flower Mound Texas, Denton Texas and Lewisville Texas areas then, you have no need to look any more. Nelson Law Firm PC is there to help you deal with all your family law and divorce related problems. Just contact us at Nelson Law Group PC at 972) 808.7227. To find out more about Brett Nelson visit BrettANelson.com