How to Protect Your Money During Your New York Divorce

How to Protect Your Money During Your New York Divorce

If you are going through a divorce, you may be worried about your assets. Continue reading to learn more about the steps you can take to ensure your money is safe. It is also in your best interest to reach out to our skilled Long Island divorce attorney today.

Keep these factors in mind when trying to protect your money in your New York divorce:

  1. Divide your bank accounts. If you do not have your own checking and savings account, you will want to do so as soon as you can. This is because if all of your money is in a joint account, you may be concerned that the other spouse will abruptly withdraw all of it. Unfortunately, this can happen and many courts have seen it.
  2. Don’t hide your money. While it may sound like irrational advice, especially if you do not trust your former spouse, you will be better off in the long run if you are open about your assets.
  3. Understand how much money you have. Before you try and protect your money, it is critical to understand what you and your partner have. This is because you can’t protect what you do not know you have.
  4. Bring in a forensic accountant. Not everyone needs a team of high-level professionals working for them to get through a divorce. Though, if you have a high net worth and believe that your partner is hiding money from you, it is in your best interest to hire a forensic accountant.
  5. Ensure that your paperwork is filled out accurately. This is extremely important if you would like to evade issues down the road. The best way to ensure that your paperwork is correctly filled out is by hiring a skilled professional, such as a divorce attorney.
  6. Keep track of the “extras” in child support. Take note of the fact that if you are going to obtain child support, you also factor in extracurricular activities such as camp and soccer gear. This is because the little purchases and big purchases add up, and you do not want to go back to court after the divorce is complete to ask for compensation for these costs. By incorporating this small factor, you can ensure that you are protecting your costs in the long run.
  7. Hire a divorce attorney. If you are uncertain about whether or not you will lose access to your money or accounts while going through your divorce, do not wait to retain the services of an experienced Nassau County divorce attorney.

Contact our experienced Nassau County firm

The Pollack Law Firm, P.C., rated Nassau County’s “BEST” divorce lawyers and proudly serving clients in Nassau and Suffolk County for more than 22 years, is always available to assist and represent parties in divorce, separation, and all other matrimonial and family law matters. Contact us online or call today to schedule your complimentary case analysis: (516) 938-3330.

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