Steps to Take to Protect Finances During Divorce

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    May 10, 2012 /24-7PressRelease/ -- One of the most stressful experiences a person can go through is divorce. The financial questions accompanying a property settlement and division of assets can be the most frustrating and confusing part of the divorce process. However, people can protect themselves and their finances during divorce by taking certain steps.

Get Organized

People need to have a clear idea of their financial situations when faced with divorce. One of the first things to do is collect and review copies of important financial documents such as:
-Mortgages
-Car loan documents
-Bank account statements
-Investment and retirement account statements
-Credit card bills
-Wills
-Trusts

After reviewing the documents, people would do well to put the copies in a secure place such as with a trusted friend or relative, or in a safe deposit box.

Check Credit Reports

Obtaining a copy of a credit report is extremely useful once divorce begins. People will then be aware of all of the accounts that are open in their names alone and jointly with their spouses. They can then monitor their credit reports to ensure that their spouses are not accruing debt on joint accounts or attempting to dissipate marital assets.

Build a Solo Financial Identity

People should take steps to disentangle themselves financially from their spouses as soon as possible after they know they are divorcing. They should begin to open bank accounts in their names alone, as well as close joint accounts held with their spouses.

Update Documents

People need to remember to change their wills to remove their former spouses as heirs. Additionally, they should change the beneficiaries on non-probate assets such as life insurance policies, retirement accounts and trusts.

Consult Experts

Those facing divorce should seek the advice of experts. Consulting with financial planners and accountants can help people understand their finances more fully and what they should ask for in a divorce settlement. People also need the guidance of an experienced divorce attorney who can help them achieve a just settlement.

Article provided by The Law Offices of Irwin D. Tubman, LLC
Visit us at http://www.middlesexlawfirm.com

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Parents Should Be on Their Best Behavior During a Divorce or Separation

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    April 21, 2012 /24-7PressRelease/ -- Parents Should Be on Their Best Behavior During a Divorce or Separation

A recent study confirms what many have suspected: Poor behavior by divorcing parents causes more problems for their children than the divorce itself. Research shows that all children experience some negative effects as their parents separate or divorce but, if a split is particularly traumatic or vicious, the children may suffer the ill effects into adulthood and some never quite recover.

If you are facing a separation or divorce from your spouse or domestic partner, the two of you have the power to make this difficult process less traumatic for your children. In fact, a study funded by the U.S. National Institute of Mental Health found that parents, even those who no longer live with the children, have a lot of control over how their children adjust to the family dissolution.

Most children are resilient, especially if given the emotional tools to cope with their feelings and emotions. When the two most important people in their lives no longer want to be together, it is of utmost importance that the parents try to minimize the impact on their children.

Guidelines for Divorcing Parents

For the sake of your children, try to divorce with dignity.
-Do not talk badly about the other parent in front of your child
-Do not make the children chose one parent over the other -- kids do better when they are allowed to love both equally
-Both parents must clearly explain to their child that, although the parents no longer love each other, they both still love the child
-Do not fight in front of the children -- schedule times out of their hearing to discuss difficult issues (or all issues if you cannot keep from arguing)
-Reiterate to the children that the break-up is neither their fault nor their responsibility
-Do not use the children as messengers between the two of you
-Your children rely on you for their emotional needs, so listen to them but do not burden them with your financial, legal or child custody battles
-Create as much continuity and routine as possible for the children

If you are considering a divorce or dissolution of a domestic partnership, consult with a lawyer knowledgeable with family law matters. Minimize the effects on your children and yourself by letting a professional handle the details of your divorce or separation for you.

Article provided by Law Offices of Gregory & Rooney, PLLC
Visit us at http://www.grrlegal.com/

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