Safeguarding your Assets before discussing Divorce

Before you begin to discuss divorce with your spouse, it is important to consider taking steps to safeguard your assets. Once you move out of the marital home, your spouse may begin liquidating assets such as furniture, vehicles, collectibles, cash, and other items of personal property. It is important to take possession of these items during the separation, or before you move from the marital home, or you risk losing them.

It is also possible to apply to the court for an injunction, which restrains your spouse from transferring or otherwise disposing of certain property. Such a restraining order can allow for items of separate property to be returned to you, and prevent your spouse from disposing of marital property before reaching a final resolution on the property issues.

If you and your spouse own real property, it is possible to file a lis pendens, which is a notice of a pending action. The lis pendens will put third parties on notice of your claim to an interest in the real property. If such a claim is properly recorded and served, it will cloud the title to the property, and prevent your spouse from attempting to sell it without your knowledge or permission.

You may also want to take steps to protect yourself by closing joint credit cards and joint bank accounts, opening bank accounts in your own name, and changing all utilities and other bills into the responsible party’s name. Failure to do this can lead to several headaches and unpaid bills down the road, which may also affect your credit.

If you would like to speak to a divorce attorney regarding equitable distribution and the safeguarding of assets before a divorce, contact Adkins Law. Adkins Law is located in Huntersville, and primarily serves Mecklenburg County and the Lake Norman area.