One of the most important steps to take before you file for divorce is to create a full inventory of all your personal and joint accounts. This includes accounts with banks, credit unions, credit cards, brokerages and lending institutions. Included with this list should be the following
Putting together this list of accounts can help prevent your spouse from getting away with concealing assets from you once you actually file the divorce paperwork. It is also a good idea to open a new bank account during your divorce, especially if your spouse has been irresponsible with your marital assets. You should inform your spouse and the court about the new account, but be aware that any income you earn until the divorce is finalized is still considered marital property. Be very careful about closing out accounts during your divorce. You may close out credit card accounts that do not have a balance, but accounts that are being actively used should remain open. You do not want to give the appearance to the court that you are sabotaging your spouse’s finances. Your best option is to keep track of your balances and your spouse’s spending, and to report any strange withdrawals, charges or purchases to your attorney as soon as possible. What Can’t You Do with a Prenuptial Agreement?A prenuptial agreement is an effective tool to help you keep your finances separate, protect yourself from potential debt, keep your property in your family, clarify who is responsible for what during your marriage and planning what happens to your property in the event of a divorce. However, there are limits to what prenuptial agreements can accomplish. The general rule is that anything illegal or “unconscionable” is off limits with a prenup. Here are some examples:
In some cases, courts may strike certain elements of a prenup, but keep the rest of the agreement intact. In others, the court might void the entire document and ask you to create a new version. Free Consultation with Divorce Lawyer in UtahIf you have a question about divorce law or if you need to start or defend against a divorce case in Utah call Ascent Law at (801) 676-5506. We will fight for you.
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Don’t Make These Advertising Mistakes Common Misconceptions Regarding the Divorce Process in Utah Overview of Family Law and Divorce Cases in Utah Divorce vs. Legal Separation in Utah Divorce Lawyer in Salt Lake City Utah Michael R. Anderson, Utah Divorce Lawyer via Michael Anderson https://www.ascentlawfirm.com/opening-and-closing-accounts-during-your-divorce/
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About MeIn 2009 I was creating marketing channels for barbie dolls in Nigeria. Spent a weekend implementing dogmas in Naples, FL. Won several awards for writing about toy trucks in Mexico. Spent 2001-2007 analyzing deodorant in Pensacola, FL. Spent 2001-2004 researching heroin in Miami, FL. Enthusiastic about writing about clip-on ties in Naples, FL. Archives
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