Making the decision to separate or even divorce is a tough pill to swallow. Couple in the decision to equally divide up assets and it can be quite a challenge. State laws differ so you need to understand that you are not guaranteed to get half of the marital assets in a divorce. Assets acquired by you and your spouse during marriage are considered marital property (i.e. property, retirement benefits). However, in the United States, there are two very different divorce standards, equitable distribution, and community property. Currently, there are 10 “community property” states and 41 “equitable distribution” states.
Some marriages simply cannot be saved. For one reason or another, two people can’t be together as a cohesive unit. When it comes time to file for a divorce, how do you ensure that your own assets are protected from the other party? Depending on the circumstances surrounding the divorce, protecting those assets may be quite difficult. However, there are a few things you can do to make sure you’re not left on the doorstep of being destitute.
It’s very common in a marriage for one person to handle certain responsibilities while the other person handles others. For example, your husband may handle all of the finances and bills, while you handle managing the home and the kids. Or maybe you handle all of the bills and expenses while your husband manages the investments. If you want to get a divorce, but you’re afraid of missing out on assets simply because don’t have much information about your marital estate, don’t worry. We can get that information for you.