3 Tips On How You Can Protect Your Financial Assets During A Divorce

If you are married woman and the mother of one or more young children, who has made the life altering decision of filing for a divorce from a relationship which is nothing like what you thought it was, in addition to the welfare and wellbeing of your children, protecting your money becomes a key priority. It is important to remember that whether you are salaried employee or a stay at home mother who takes care of the children, you always have some finances to protect or claim for yourself during a divorce. When you and your spouse decided that your role in the family was to be a stay at home mother, you made a compromise and he entered into an agreement in which he undertook the responsibility to dedicate a proportion of his salary for the welfare of you and the children, a proportion that you are entitled to claim if you end up getting separated. Keeping these in mind, let’s look at three important tips you must learn if you want to survive the bitter process of judicial separation and walk out of it with every cent of money that is rightfully yours.

A Personal Bank Account Once you get separated from your spouse and file for a divorce, several expenses are going to arise and to pay for these you need to have an adequate level of funds. Hiring one of the best divorce lawyers Melbourne has to offer, paying court fees or finding a new place to live in if the need arises can all prove to be cumbersome expenses if you don’t possess the required level of funds and looking for the money amidst all the confusion and emotional instability of a separation is never a good idea. Be smart and open a separate bank account for yourself and decide on how much money you are going to deposit in them. Almost all family lawyers holds instructs their clients to disclose to their spouses the exact information about these accounts, the money deposited in them and when this was done to their spouses so that they don’t have any chance of accusing the clients of attempting to hide money shared by you both. View more information here https://australianfamilylawyers.com.au/thinking-separation/. 

Protecting Your Valuables Especially in the case of abusive relationships, the spouse may try to hide or destroy some of their partner’s belongings. You must prepare yourself for any issues of this nature and if there are any valuables in your marital home that you think would be better if kept with you in your temporary home, you can take them with you. However, it is important not to sell any of these when you are short on cash for paying the divorce fees or damage them in any way as you will be held responsible for all the assets that were shared during your marriage by the court.

A New Postal Address The last thing you want is for any mails from banks or any other parties to go to the post box at your spouse’s home where he will be able to get a hold of those. While there are various financial information that must be disclosed to the spouse and the courts, some sensitive or confidential information shouldn’t be, and to ensure this you must register yourself for a new postal address so that all the information that is meant for you will get delivered for you.