How to Protect Your Money During Your Divorce | What to Know

If you are going through a divorce, you may be wondering what steps you should be taking to protect your money. Continue reading and reach out to our skilled Monmouth County divorce & separation attorneys to learn more. Our legal team is on your side.

Ways you can protect your money in a New Jersey divorce:

  • Separate your bank accounts. If you are someone that does not have your own checking and savings account, you will want to do so as soon as you can. If all of your money is in a joint account, you may risk the chance that your former spouse will abruptly withdraw all of the money in it. It is unfortunate that this is a possibility, however, keep in mind that it does happen.
  • Don’t hide your money. Even though it may appear like illogical guidance, particularly if you do not trust your former spouse, you will be better off in the long run if you are open about your assets.
  • Learn how much money you have. Before you try and protect your money, it is necessary to comprehend what you and your partner have. After all, you can’t protect what you do not know you have.
  • Bring in a forensic accountant. Not everyone needs a group of high-level professionals working for them to get through a divorce. Though, if you have a high net worth and feel your partner is concealing money from you, the help of a forensic accountant can be crucial.
  • Make sure the paperwork is filled out correctly. This is especially important to avoid issues down the road. The best way to ensure that your paperwork is correctly filled out is by hiring a skilled professional, such as a divorce attorney.
  • Remember the “extras” in child support. Keep in mind that if you are going to receive child support, make sure you count the extracurricular activities such as camp and soccer gear. This is because the little purchases and big purchases add up, and you do not want to go back to court after the divorce is said and done to get compensated for these costs. By recognizing this small factor, you can assure you are covering your expenses in the long run.
  • Hire a divorce attorney. If you are unsure about whether or not you will lose access to your money or accounts while going through your divorce, do not wait to hire an experienced attorney.

CONTACT OUR EXPERIENCED NEW JERSEY FIRM

If you require strong legal representation for matters of divorce and family law in Rumson, Monmouth County, or anywhere in New Jersey, contact The Law Offices of Paone, Zaleski & Murphy to schedule a consultation with one of our experienced attorneys today.