Safeguard Your Assets In A Divorce

When going through a divorce it is very important to protect your assets. It is possible for an unsuspecting spouse to find on top of everything else, bank accounts were raided, stocks sold and insurance policies cashed.

If you are a woman going through a divorce try to have joint liquid accounts transferred to your name. You may have to get your husband to sign documents but some banks just need one party to do this.

The process is not so simple with assets such as stocks, mutual funds, bonds and other investments. Usually it is necessary to have both signatures to liquidate these assets, but, if you have signed a power of attorney in the past or if your husband's new girlfriend tries to sign up in your place, you may in trouble. To combat these circumstances, make sure all institutions are aware you are going through a divorce and ask them to check for identification before accepting a transaction.

One bad scenario would be if your husband runs off with a cash value of a life insurance policy. In this case, to protect yourself try to get that policy in your name. Sometimes the courts would require a husband to keep up the policy while you are separated. Another way to safeguard the assets is to keep track of account numbers and balances. Make copies for your attorney too. A wife should know what a husband's pension looks like. Knowledge is power. At the very least, this would reduce some anxiety around an already stressful situation.

The safeguarding goes both ways though. At this stage assets should be considered money you intend to protect until it can be divided equitably. However if you need to take out some money to pay for another marital asset like your home or child support then make sure your attorney understands the situation and has an account of it.

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About Abby Johnson

Abby Johnson is a staff writer at http://www.legal-journal.com and is an occasional contributor to several other websites, including http://www.lifestylegazette.com.


And here is another random article you might be interested in...

What Would Jesus Invest In?

According to the bible, we already know how Jesus felt about moneychangers in a house of worship but what investments would Jesus possibly deem acceptable and suitable in today's society?

Residential Real Estate

A residential dwelling is a good place for a family to live in and a good thing for a family to own. A home can be the foundation and centerpiece for a family unit and family values. A good home can create a stable environment for the family members, the surrounding neighborhood, the town or city and the country as a whole.

Commercial Real Estate

Commercial real estate can be a boon to commerce and the local community. It can generate local and convenient marketplaces for vendors and consumers, can house businesses in a community, can create jobs on a local level - for construction workers, electricians and, of course, carpenters. Commercial real estate is a critical and fundamental component of successful local community development.

Savings Accounts, Savings Bonds, CD's, etc.

It is good to save some money and put it away for a rainy day; for into each life some rain must fall. And putting your savings in a secure financial institution is safer than keeping it under your mattress.

Stocks

Yes, the stock market is the bastion of capitalism, and capitalism these days is feared and hated around the world and by liberals here at home. Upon further examination here is what we will also find: in fact, the stock market is an excellent and efficient way for small, medium and large companies to acquire expansion capital. With the additional capital these enterprises can create new jobs, new products and more new tax revenues for the society.

An individual or other investing entity can purchase common stock shares of a company, and, in doing so, legally becomes an actual owner of that company, with voting rights regarding the affairs of that company. And an individual may even choose the specific company or companies he or she wishes to invest in. If an investor is a devout socially conscious person if they so desire they can even choose to invest in companies involved in alternate energy, environmentally beneficial products and services or invest in other politically correct fields.

Profits

Whatever the investor chooses to invest in, if the investment becomes successful and profitable, he or she can then choose to help those who need help, their less fortunate brothers and sisters, by donating the profits they make to a house of worship, a charity or other organization of their choice.

What Would Jesus Invest In?

Jesus most probably would not invest at all. After all, He would need no money (I'm sure His earthly needs would be provided for), would accumulate no wealth, have no investable funds, and thus would probably not be interested in financial investments of any kind.

But I don't believe that Jesus would mind if we mortals, as we go forth and multiply, make some good, solid, productive investments along the way.

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About Alan Korber

Alan Korber is a successful investor and creator of the Korber Strategy, a simple and successful stock investment strategy for returns of 50%-100% annualized, published online at akorber.com.