At the onset of a divorce, many experts suggest that you change your electronic
life, including shared social media accounts and passwords. But your Facebook
and Twitter passwords are not the only things that needs to be changed
when you get a
divorce. In fact, your paper life needs to change as well as you enter this new
period. Below are a few changes you need to make when you are entering
into a separation or divorce.
Open Separate Bank Accounts
When you are beginning to think about a separation, you need to open a
separate bank account.
law, any earnings you have during your marriage are considered marital property
and should be divided during the divorce. However, money earned after
separation is considered your separate property. You don’t want
any of this money going into a shared account, especially if your spouse
is wasteful with his/her money. If you need to continue to pay joint debts,
you can always write your spouse a check. If you cannot live off the money
you make alone, you can always petition the court, pendente lite, for
spousal support to support yourself during the divorce process, which
will give you alimony during the divorce and may lead to alimony after
Once you head into a separation, you may be physically separated from your
property. Entering a divorce, you need to take inventory of your assets,
including pictures and written documents. This is especially important
if you have to part with assets. You will then have proof that the asset
existed when you separated and the condition the asset was in. Your spouse
may sell or dispose of assets during the divorce, and you don’t
want to be cheated out of the value if your spouse sells things for less
than they were worth.
Before you leave the marital home, or before you allow your spouse to take
documents out of the marital home, make copies. During the divorce process
you will need copies of tax returns, e-mails, financial statements, bank
account statements, life insurance policies, retirement accounts, etc.
These documents will be used to prove marital assets during the divorce
hearing. You don’t want your spouse to dispose of these assets or
deny their existence, especially if you don’t have proof otherwise.
Change Your Will
Your will, if written after your marriage, most likely leaves most of your
estate to your spouse. When going through a divorce, you don’t want
your spouse to inherit. You need to change your will to reflect your new
Change Your Life Insurance
Your life insurance and other death benefits are not released according
to your will. These death benefits are given to a beneficiary directly
through the company that holds the benefit. You need to contact that company
directly to change the beneficiary to a new person. If you do not make
these changes, the money may go to your spouse, even if you are divorced.
Let Us Help You
Divorce can be a difficult time, and often includes many complex aspects.
The experienced South Florida divorce attorneys at Miami based Hager &
Schwartz, P.A. can help you through all aspects of your divorce to make
sure your rights are upheld. Please
us today for a consultation.