As you go through the divorce process, you will have a lot on your mind. What will happen to your home? What will happen in terms of child custody? Are you going to find yourself in position to keep some money after the split?
You don’t go into your marriage thinking you will eventually divorce, however, this is reality for many people in today’s times. To protect yourself financially, it may be in your best interest to request a prenuptial agreement. This will ensure that any assets you bring into the marriage remain yours in the event of a divorce.
Another thing to consider is this: Comingle your assets during your marriage. Again, you don’t do this with the idea that you are one day going to divorce. Even so, this is a good idea because it makes it difficult for the other party to differentiate between assets that belong solely to them and those that belong to the both of you. As the divorce process unwinds, this will improve the chance that the money will be split down the middle as opposed to going 100 percent to your soon to be ex-spouse.
You truly hope that your marriage lasts forever, but don’t overlook the fact that a divorce could come at some point. There are things you can do up front, as well as during your marriage, to help protect your financial interests in the event of a divorce. For your well being, these are things you should consider, no matter what the other person has to say.
Source: The Huffington Post, “An Open Letter to Cinderella: How to Divorce Prince Charming And Keep Some Money,” James J. Sexton, July 10, 2015