7 Tips To Protect Your Assets When Divorce Is Imminent
When it seems divorce is around the corner, action must be taken before the Summons is served. On the back of the Summons there are Restraining Orders with several prohibitions, including not changing insurance policy beneficiaries, disposing of any property whether separate or community, transferring any funds, and creating or modifying a non-probate transfer that effects the disposition of property without written consent of the parties or order of the court. Violation of this Restraining Order can result in a fine or imprisonment. Therefore swift action must be taken.
(1) – Create the irrevocable trust or office shore trust account, if you have not done so already.
(2) – Notify the life insurance company, if you want to select a new beneficiary for your policy.
(3) – Open a new bank account and place your new payroll check in this account.
(4) – Make copies of your spouse’s bank statements for the past 3 months.
(5) – Make copies of both parties’ latest pension, defined contribution, and 401(k) statements.
(6) – Prepare a video or take photos of all separate property in the family residence.
(7) – Prepare a video or take photos of all community property in the family residence.
Is Divorce Imminent or in Your Near Future?
If you own valuable assets, property or a business, your divorce filing will be more challenging. San Diego divorce attorney Paul Ryan will work closely with you and fight to get/keep your desired marital assets. He will help you organize your finances and make sure that you are set up for long-term financial success.
Ryan Family Law Group offers a free consultation to all potential San Diego divorce clients. We will go over your case details and determine if alternatives to divorce, such an annulment, are possible. You can schedule your free consultation by calling us 858-222-6600, texting us or by emailing us.