3 Things You Should Do To Prepare Yourself For A Divorce

Law Blog

Going through a divorce is a major life change. Even if the separation from your spouse is the best possible thing, it still will be stressful. One of the best ways to ensure that your divorce runs smoothly, and that you minimize as much stress as possible, is to prepare ahead of time. Here are some things that you should do as soon as the divorce process starts.

1. Open Separate Bank Accounts

Money is a major stressor in the divorce. Not only will you be dividing the assets as part of the divorce agreement, but you will also be responsible for your own living expenses and legal fees. If you don't plan ahead, it could be very hard to have money to live off of during the divorce. This is why you should open up a separate bank account months leading up to the divorce and start setting aside money. This way, you won't be at the mercy of your estranged spouse to get the money that you need to survive.

2. Change All Estate Planning Documents

As a general rule, people usually have their spouse as their power of attorney. This means that if something were to happen to you, your power of attorney would make all of your legal, financial, and medical decisions. The concern is that if something happens to you, which it always could, your estranged spouse will be making life-altering decisions for you. This is why you should meet with an attorney as soon as you start the divorce process and change all of your estate planning documents. Make sure that you have someone that you trust as your power of attorney, and, if needed, change your will and trust to accommodate your new situation.

3. Get A Formal Separation Agreement

Many people choose to live separately while they go through the divorce process. This shouldn't be a problem, unless you don't get a separation agreement. When you abandon your house, you give your spouse adverse possession of the property. That means that until the divorce is final and a judge rules on the divorce, you could have a hard time getting back onto the property. Your spouse could change the locks, take away the kids, and much more. A formal separation agreement will only serve to protect you and your interests.

By doing these three things, you can protect yourself while going through a divorce. Contact an attorney like Lisa J Kleinberg for more information.


27 July 2016

Legal Issues in Flipping Property

People with an eye for property can make a great deal of money buying a house, fixing it up and then selling it for a profit. However, there are many legal issues involved in this kind of pursuit. I am an attorney with experience in real estate, and I have helped many clients learn the legal details involved in flipping property. This blog will help you understand what you need to know when you are buying and selling a home as well as information about paying taxes on money made and property owned. Flipping houses can be a very profitable activity as long as you know how to do it legally.