A divorce is one of the most confrontational situations that many people find themselves in. Additionally, there is a lot that is at stake in a divorce because there are many decisions being made that will affect retirement, relationships with children and who remains in the marital residence. With so much at risk it is critical to do everything you can in order to protect your interest now and in the future.
Emmie Martin from Business Insider identified six steps that an individual should take to protect themselves in the event of a divorce:
- Identify all of your assets
- Obtain copies of all your financial statements, (i.e.,bank statements, 401k statements, etc.)
- Secure some liquid assets, (i.e., cash and other assets easily converted into cash)
- Become familiar with your respective state’s laws
- Build a team, (i.e.,attorneys, financial advisors)
- Determine what you want and what you need
These steps appear to be simple and just about applicable to every life scenario. However, when it comes to preparing for a divorce these steps can make all the difference. The Faucette Law Firm is experienced with guiding clients through the divorce process and can ensure that your rights are protected. If you are thinking about a divorce or have already decided contact our office today for a consultation.