To keep the assets you deserve in a divorce, make sure to look for a reputable divorce lawyer, determine which possessions are yours and give proof of your ownership, make sure you understand the meaning of community property, find out the value of your property, keep careful track of your records, and don’t attempt any falsification.
Divorce can be a very difficult event in one’s life. In a worst case scenario, you could lose all of what you own to your former partner if you are not prepared for this event. You will need to look for a divorce attorney Southfield who can help you make sure that your assets are protected and to give you guidance on legal matters. Here are additional tips you should consider:
Hire a reputable divorce attorney
Among the best things you should consider doing is to take time in finding a good divorce lawyer who can both represent your case and give you the legal guidance you need. You can ask any lawyers that you know for a referral to one of their colleagues who has a good reputation as a divorce lawyer. Finding a divorce attorney before filing for divorce will help you become more ready.
Determine which assets belong to you and document proof
Go over all your properties, investments and other assets and identify which ones belong to you before you got married. Although these items will remain yours, there are some cases where proof may have to be produced to show that you really own each item. Provide documentation for every item, take photographs, and include a summary about how they came into your ownership. You should also work out what portion of your total assets is made up by your own contributions. Give your divorce attorney the required documents.
Be aware of the concept of community property
During marriage, most of the couple’s possessions are considered community property, meaning both partners own the assets as a result of the marriage. Keep in mind that you will be asked to provide a “replacement value” for each item before you indicate that something is yours. Document and take photographs of the items that you want to keep and relay this information to your lawyer.
Find out the value of your property
Look for a reliable forensic accountant that can determine the value of the businesses you share as community property with your partner. The accountant will help you determine which part of the business is yours and is owed to you. He or she must also be experienced in delivering legal proof so your case will be properly presented.
Keep track of records
Be sure to retain records and messages given by your spouse, whether they are business or personal. Some family courts require these as evidence. In addition, a court will need to refer to these when the discovery process of the divorce proceedings is taking place. You should also avoid making any form of threat or writing anything that will divulge your intentions.
Do not falsify any documents
You may feel the urge to manipulate documentation to your advantage, but in the end, you will only wind up losing more. The discovery process is a standard procedure during a divorce and you can expect it to be thorough and meticulous. Creating false records will classify as “engaging in conduct that is not conducive to settlement purposes”, and the consequence of which will require you to pay all the legal expenses of your spouse. Family Code 271 prescribes the said terms.
The stress involved in a divorce is all the more reason you should prepare for it well.