How to Protect Your Finances When Facing a Divorce in New York

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How to Protect Your Finances When Facing a Divorce in New York

Protecting your finances is an important part of the divorce process. There are many steps that are advised you take, so continue reading to learn more about them. Contact our experienced New York divorce attorneys to learn more about the divorce process. Our firm is dedicated to ensuring you and your future are protected.

How can I protect my finances during a divorce?

  • Retain the services of a divorce attorney: If you hire an experienced divorce attorney, they will have the ability to suspend any accounts at risk or free up funds for your legal and living expenses throughout the entire divorce process. A lawyer can also provide dependable legal advice that will always put your best interests first.
  • Separate your bank accounts: You and your spouse should create separate bank accounts right away. You can do this by transferring your money and placing it into your own account. Be sure to notify your spouse to let them know what you did. By doing this, you can ensure that your former spouse will be unable to remove all of the money in your joint bank account.
  • Hire a forensic accountant: If you have a high net worth, you should hire a forensic accountant that can replace your income and asset picture based on your lifestyle and expenses if you have a high net worth. It is also important to look into taking in a forensic accountant if you have a suspicion about your partner hiding money from you. Do not wait to hesitate to retain the services of an experienced attorney with proficiency in assets and trusts that can support you if you think assets are offshore or in a domestic asset trust.
  • Create an emergency fund: You also may want to create an emergency fund that cannot be attained by anyone else to maintain your financial well-being if your assets are within the control of your former partner.
  • Know the amount of money you and your former spouse have: It is essential to know how much money you have to be able to fully protect your finances. To have better knowledge of the money you have, you will need to know the balance of you and your former spouse’s 401(k), credit card bills, 529 accounts, savings plans, and more.
  • Check if your former spouse requires insurance: It is important to confirm that your former spouse is insured. Especially if they are providing alimony or child support payments. In the event that the payer passes away, their estate will contribute any funds that are owed.

CONTACT OUR FIRM

Matters of divorce and family law should be navigated with the guidance of an experienced attorney. If you need strong legal representation regarding matters of divorce, family law, and estate law, contact the Law Offices of Susan A. Kassel, P.C. to schedule a consultation today.

Why choose our firm?

We have an excellent AVVO rating from our many happy clients

We will tirelessly pursue a favorable resolution to your case

We offer aggressive and effective representation

We treat our clients with the compassion, patience, and respect that they deserve

We have more than 20 years of dedicated legal experience

We have the legal knowledge necessary to help you obtain the outcome you desire

We tailor our practice to the representation of your divorce case

What Our Clients Are Saying

I hired Susan to represent me in a divorce matter where I was fighting for custody and to limit my wife's equitable share of our assets. I won custody of our son, kept the marital residence, kept my professional practice, kept my building and paid less than half to my wife. This was after a long-term marriage. She could persuade the court that equitable is not equal and sometimes the man does deserve to win!

‐ Dave

I first must say that I had been represented by two prior attorneys both of whom had simply taken my money and left me nothing to show for it in my custody case. They kept telling me what they were doing for me but I found out they were lying. Susan on the other hand had gotten me temporary custody and support for my children and myself within two months of hiring her. I cannot say enough about her.

‐ Craig

After talking to a few other attorneys, I hired Susan to represent me in my divorce and custody dispute. I was reluctant to go with her because she was the cheapest out of all the other attorneys I met with, but I'm so glad I did. I am 100% positive no one else would have done such a great job with my case as Susan and her staff. Her work is quality, her staff is reliable and her character is honorable. There...

‐ Linda

I had a very difficult case where I had already burned through two attorneys who were unable to get me custody of my children and complete my divorce. Susan was able to rapidly work out an agreement and not let it just malinger on like my previous experiences. She was also considerate of my financial situation unlike all of the other lawyers I had spoken to. I highly recommend her if you want complete and caring service with an in-depth knowledge of...

‐ Joanne

SERVING ALL OF SUFFOLK COUNTY

The Law Offices of Susan A. Kassel, P.C. proudly serves clients throughout Suffolk County, New York in their divorce, family law, and estate planning matters. If you require the services of an experienced Suffolk County attorney, schedule a consultation with The Law Offices of Susan A. Kassel, P.C. today.

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