How to Protect Yourself During Divorce
Divorce is never an easy process to go through, which is why it’s important to know the steps to take to protect yourself, especially when it comes to your finances. You need to safeguard your interests so that you have the financial means to take care of yourself and your children. At The Law Office of Donneshia Hall, we are here to provide the expert legal counsel you need each step of the way. When you’re ready to find a divorce lawyer in the NYC metro area, contact our office to book a free consultation.
1. Close Joint Credit Cards
You probably already know just how much credit cards can improve or deteriorate your credit rating. With that in mind, it’s important to take the few minutes required to cancel any joint credit cards you have with your spouse. While they may not do anything with the credit card, they could easily rack up large purchases in minutes, which would automatically make you equally responsible for the debt.
If your credit card currently has a balance on it, simply tell the credit company that you want them to close the account immediately to all future purchases. While you’ll still be held responsible until the balance is paid in full, you won’t be held liable for any charges made after the date of your contact. Be sure to ask for a certified letter to verify the request you made during the phone call.
2. Protect Investment and Bank Accounts
If you have a joining banking account or investment account with your spouse, then it allows either of you to withdraw money at any time. Normally, this would be fine, but since you are in the process of divorce, you want to make sure to protect yourself from being cleaned out. Even though you might want to empty out all joint accounts as a precautionary measure, this act could lead to legal problems down the road. In order to protect yourself now and in the future, it’s best to speak with a divorce attorney who can give you the expert legal advice you need.
3. Secure Your Data
When we say you need to secure your data, we’re referring to any and all financial data you may have. Sometimes, in divorce proceedings that turn aggressive, spouses can hide specific financial data to reduce their liabilities in court. You can protect yourself by first making sure you have secured copies of all your financial data, including tax returns. Once you’ve made copies, be sure to change your passwords — and make sure they’re ones your spouse can’t easily guess.
4. Maintain Your Privacy
One thing that might be easy to overlook in the process of divorce is that you are working to create a life that is separate from your current partner. With that, you’ll need to create a way to get your own mail, maintain your privacy, and protect your personal information. A relatively easy way to do this is to get a P.O. Box and arrange for your mail to be delivered there instead of to your apartment or home.
5. Obtain a Credit Report
You may think you know your credit report, but if you had joint accounts with your spouse and they messed up their own credit, then their poor choices likely impacted yours negatively as well. Once you have the report, it’s important to take all of the necessary steps to fix any errors and begin repairing any damage that was done to your credit rating. The sooner you do this, the better you’ll be able to minimize the impact on your finances.
Additionally, while it may not be easy to hear, obtaining your credit report could also lead to information about whether your spouse was living a double life. If that’s the case, then your credit report will reveal any financial secrets they were keeping. This is important information to present to your divorce lawyer so they can use it to help your case in court.
6. Get a Divorce Lawyer
Perhaps this should go without saying, but it is very important to hire a licensed divorce lawyer. This is especially true if you and your spouse can’t agree on one or more issues in the divorce. You may have friends and family who will encourage you to pursue divorce proceedings on your own to save money, but this would be poor advice. There are many items included in divorce law that only an experienced family attorney would know how to navigate in your best interests.
Divorce Lawyer in NYC
Divorce is tough emotionally, mentally, and physically. It can be one of the hardest things you’ll go through in your life. If your divorce involves children, child support, or significant assets, it can become even more difficult. Donneshia Hall has more than 10 years of legal experience to help you navigate the process and ensure that you have the expert legal advice you deserve. Contact The Law Office of Donneshia M. Hall in NYC today to schedule a free 15-minute consultation.