The American Psychological Association evaluates that 40% to 50% of marriages terminate in divorce. So, if it's happening to you, rest assured that you're not alone. Everyone comes out financially damaged as they file for divorce in Florida, but when the dust settles, you don't want to find out that your ex-spouse got out of the marriage in a great financial position while in chaos.
With that in mind, consider the following strategies and tips when you and your spouse begin to divide your assets.
Learn about the amount of money you have
If you don't know how much you have to protect, you won't be able to protect it. The first thing you need to do is learn how much money your partner has at the time of filing for divorce. As you will learn the total of what you own, you will be able to form an opinion on what you can secure for yourself out of your divorce.
Do not hide your money.
This might sound like a counterintuitive suggestion if you feel your spouse is not so trustworthy. However, you do not need to be on the same page. Hiding money during the dissolution of a marriage is a dreadful mistake to make. It can escalate the contentiousness, legal fees, and loss of reliability with the most crucial person in your divorce- the judge.
Split your bank accounts
Get your checking and savings accounts now if you don't already have them. Begin separating your bank accounts with your spouse. If you have all of your money in a joint account, you may be anxious that your spouse will withdraw the entire amount at once. That is a real risk, though the judge will not be pleased unless there is a good explanation.
Have an emergency fund
You can open a savings account to deal with emergencies throughout the case. You can open a separate saving account that should be used as an emergency fund only. This account should be under your control, and no one else should be able to touch it. You can have a feeling of assurance by doing so in a case when most of your assets will be held in the name of your spouse.
Hire a divorce lawyer
If you and your partner agree upon an uncontested divorce, you will probably not need the assistance of a lawyer. However, you should bring a lawyer in as soon as possible if emotions are running high.
There will be a possibility that you won't be able to access your funds, or your spouse will drain your accounts. In that case, the law will make sure to keep you secured financially.
The attorney can freeze all the accounts at risk and free up the funds for you to avail them for your legal and living expenses.
Ascertain the proper filling of required documents
You can rest assured about the proper filling of all the documents by hiring a reliable professional such as a paralegal service. If you fail to file the proper documents, there will be a risk of receiving your share even though you are entitled to it.
Consider the extras in child support
If you are eligible for child support, consider all the extracurricular activities such as a school camp or sports gear. All the little and big purchases should be included.
In brief, you have to consider a few essential steps to secure your finance in a case when you are going through the dissolution of marriage.
Make sure you remember the following points
· Keep an account of your money.
· Don't hide your funds.
· Split your bank accounts.
· Get a savings account.
· Hire a divorce lawyer.
· Fill out the paperwork precisely.
· Keep the extras in your mind associated with child support.
Keeping these steps in mind will allow you to ascertain your fund's safety while going through a divorce. You can take the assistance of a paralegal service for better guidance to File for Divorce in Florida. A paralegal service like Court Source, Inc. can help you with a cheap divorce Florida procedure.