Divorce And The Protection Of Assets

Sadly some people do not play fair when it comes to divorce. One example occurs in the sharing of property. There are all sorts of nasty tricks which can mean even more heartache at a time which is difficult in itself.

So study these facts and educate yourself as to your rights and entitlements. Remember that divorce is a state matter and the divorce laws vary from state to state.

There are several vital steps you should take. First make a list of every piece of property gained during the marriage, then photograph each item and have it professionally valued. It is not unusual for a spouse to claim that a certain item does not and never has existed. By having photographic evidence you are at least able to challenge that claim.

Getting a professional valuation is important. If you guess at the value of something you could be hopelessly wrong. A painting for example may have appreciated greatly over the years. The value of an item in monetary terms is important to a divorce judge. The value in emotional or sentimental terms may be far more important to you.

Be aware of leaving the family home. If the property is granted to your spouse and you leave for what you think is the final time, you may not be allowed back inside without permission. This is not a straightforward issue because the rule does not apply if you left voluntarily. But it is better to be safe than be sorry. If you leave the home and do not claim an item or items which you later believe to be yours, having left them behind may give your spouse first call on this property. Before you leave, double check that you have everything you want and are legally entitled to take with you.

There may well be documentation about property from the marriages – receipts, share certificates, guarantees and the like. Keep these documents in a safe place away from the marital home. These pieces of paper may be your only evidence in claiming certain possessions. If your spouse or a supporter of your spouse can easily obtain these documents, they may well disappear. You must look after your own interests.

It would be better to concentrate on those assets which are easiest to hide. A house or caravan will probably not disappear overnight, if at all, but a share certificate could be gone in an instant. Work first on those items which are easiest to hide or dispose of.

Money can be shifted as well as items. Your best friend in all of this is evidence. Documentation is vital. For instance, if you have a record of the balance of a bank account and then this balance is changed and changed significantly, the evidence in the form of documentation can be presented to the court. Before the divorce you can apply to the court to have an account frozen. This can take time and money so collecting documentation is always your fall back position.

By: berna abonita

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Berna Abonita is a writer for, www.divorceguide.com, provides free resources and articles on divorce settlement and asset protection. Visit it now to find more divorce and separation advice.