| Scott
James
Sadly whether we like to admit
it or not, Divorce is a growing part of society’s day to
day existence. More and more of us are getting divorced on a much
more regular basis and some even seem to be making career moves
out. Of course divorce is one of the subjects that we try to avoid
when we embark on a relationship and indeed when we get married
but sadly it is not a subject that at least 25% of us will avoid
in our lives.
It we accept that divorce is possibly a potential
outcome of a relationship breakdown then quite frankly we are
duty bound to make sure that it is taken seriously. This means
quite frankly, first and foremost, taking care of family issues
and making them a priority especially if there are children involved.
Remember folks, I don't want to sound as if I'm being moralistic,
far from it, but the children did not ask to get involved and
quite frankly again, those who use their children as bargaining
tools are beneath contempt. By all means haggle over the family
real estate and bank account but leave the children out of it
and make sure that they all well catered for.
However if you have any type of idea that a separation
and divorce is headed in your direction, then there are certain
things that you can practically do. Don't feel guilty about taking
these measures if you must. Messy breakups which lead to divorce
can show the darker side of your partner.
1. Knowledge is power. Know where you and your
spouse have bank accounts, life insurance policies, mutual funds,
certificates of deposit, all other instruments of finance, and
important documents such as social security cards, passports,
birth and stock certificates, and the details of pension, 401
(k), and other employee benefits. Know the location of and have
access to safe deposit boxes. Your county recorder of deeds can
help you track down real estate and deeds.
If your marriage is just short of the ten-year
mark, you may want to wait it out, if you can and if it's safe.
You'll have more bargaining power in matters such as alimony,
social security, pension benefits, and more. This is because courts
tend to view marriages lasting at least ten years or more as longer
term. Therefore, you may be eligible for a portion of your spouse's
pension and social security benefits (when you reach the age to
claim these), and you may qualify for alimony. It's all good reason
to speak with an attorney before moving out.
2. Become a financial sleuth. Obtain statements
and balances for bank accounts, plus copies of wills and trusts.
Make duplicate copies of computer files-with financial data. The
Social Security office can give you a current report of earning
for both of you. Collect as many of your spouse's pay stubs as
possible. In some professions there are multiple pay checks. For
instance, a police officer might receive separate payment for
his court appearances. Or there could be bonuses or commissions
accounted for on separate pay stubs. Most of this shows up on
a W-2.
3. Safeguard heirlooms and liquid assets. Seek
appraisals for artwork, antiques, and other collectibles. Take
any sentimental or important objects to a friend's house for safekeeping.
Be certain that your name is recorded on the house deed or apartment
lease. Do not stash cash in a safe deposit box; for pending litigation,
boxes are sometimes sealed. Make sure you revoke any powers of
attorney your spouse may have and ask brokerage firms to check
for identification before your name is signed to anything.
4. Open a bank account in your name. It only takes
one party to raid an account, and you don't want to be left without
any money. Certainly do not deposit any more of your own money
into a joint account, even if you transfer that into your own
name. Establish a new account for future deposits, preferably
at another bank. This is where you can keep an emergency fund
to live on and pay legal bills, at least until support is established.
Don't be surprised if a spouse petitions for joint accounts to
be frozen, pending equitable distribution in a divorce. This is
another reason to have your own access to funds.
Article Directory: http://www.articlecube.com Scott James writes
about a number of issues and more information on the above can
be found at the following links:Divorce statistics ,Divorce Forms
and Divorce Lawyers
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