Preparing For A Divorce Before It’s Filed

A:

1. Be proactive & divide some assets before even retaining the lawyers

If you need money to pay for your attorney, pay large bills, etc., you’re best advised to secure those funds before the divorce is even filed. Once the case is filed, as stated, you may be restrained from accessing certain funds without consent of your spouse. As such, if there’s a house which needs to be sold, go ahead & sell it (with, of course, the consent of your spouse) before the case is even filed. If there is a dispute as to credits owed to 1 party, or debts which need to be paid, then evenly split the undisputed funds & place the remainder in the escrow account of 1 of the attorneys.

2. What about money to pay bills?

If you have a large amount of money in a bank account, or investment account, you can handle it the same way. Split the undisputed money evenly, and any remaining funds you can either leave it in the joint account, or deposit it in 1 of the attorneys’ escrow accounts. I have handled far too many cases in which the parties do not do this, then file their divorce case – only to discover they cannot then access the joint funds to pay for their attorney or pay large bills. Better to act now than pay your attorneys to fight it out!