During a time when emotions run high, divorce proceedings can bring about many problems when it comes to finances. Ohio couples who are confronting these issues will want to ensure that all marital assets are protected. The following tips may help navigate divorce proceedings successfully.
Finding a trusted financial advisor who can explain any questions is key. This is particularly true for a spouse who did not handle the finances during the marriage. While the urge in most divorces is to get caught up in emotions and the drama that may surround the separation, judges want cold, hard financial facts to help them make decisions.
Even though we live in a digital world, making paper copies of all financial documents will ensure a person has them when they are needed. An embittered spouse may decide to change passwords to joint accounts, making that information temporarily inaccessible. Spouses who try to hide their assets or give them away, only to be returned after the divorce is final, often find that those types of tricks do not work. When those tactics are discovered — and they usually are — the court has no regard for the one who wastes his or her efforts.
A divorce can cost a lot of money. Many times the household income will be cut substantially, leaving a person financially obligated when he or she tries to maintain the same lifestyle as during the marriage. Adopting a more economical standard of living is important to ensuring that funds are available when needed.
Finding an experienced family law attorney who will be able to speak for a person before a judge will go much further than texts, emails or photographs revealing an affair. Understandably, it is important to choose the right attorney for representation. Even if there are no acrimonious feelings between the parties, a divorce attorney who knows the laws in Ohio can offer protection should things turn ugly at any point. A lawyer can help keep things under control during this time of upheaval and prevent a client from making a mistake that could be damaging in the short or long term.
Source: businessinsider.com, “7 things you should never do if you’re about to get divorced“, Emmie Martin, Feb. 8, 2017