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Protect Yourself in Florida Divorce by Maintaining Accurate Financial Records
You may have never imagined divorce. You may have never felt a need to keep certain financial records. However, during the dissolution of a marriage, proceedings regarding money such as child support or alimony determination can be times of uncertainty or hostility. Stress can bring out the worst in some people who may try to beat the system. This is when you need an experienced family law attorney by your side to comb through facts and unveil any cover-ups.
If you are facing a divorce, call on us for knowledgeable guidance and representation in your case. We will assemble and present the necessary financial records to contest any claims that are contrary to what you believe you are entitled to. A solid case built on facts is to your advantage during pre-litigation negotiation and may likely save your case from going to litigation. Call for a free, no obligation consultation: 1-855-Kramer Now (1-855-572-6376).
Speak with an experienced Florida attorney at our firm today.
Call 855-Kramer-Now (855-572-6376).
Keeping Records in Divorce to Ensure Financial Stability
In our video we present a scenario in which one spouse threatens to get a lesser paying job to avoid paying alimony. What the spouse fails to realize is that the legal system is smarter than some people think. In Florida, the law means what it says when it requires full disclosure of assets, debts and other liabilities in order for the court to render a judgment regarding fair financial support in a divorce settlement.
There is an opposite scenario—where a spouse is completely out of the loop of the financial transactions in a marriage. These are the spouses who say to us, “Oh I don’t know, my husband (or wife) handled all the bills and financial chores.” Having had no involvement with the checkbook, investments, or any of the decision-making about finances, this person stands little chance of knowing the real financial picture, if his or her spouse chooses to be dishonest.
The more you are aware of your finances, the more in control you can be about your situation. When there is any doubt that a full financial disclosure has occurred, our attorneys uncover unreported income or hidden assets of a spouse during the discovery process in a divorce case.
What Records Should You Collect to Protect Yourself Financially?
When a spouse seeks to conceal documents or denies the ability to work, the following can be used to prove (or “impute”) his or her income:
- Proof of Income: Whether through joint bank account statements, your spouse’s pay stubs or other means, maintain or collect as recent documents as possible showing your spouse’s earning capacity. Even if your spouse quits work to avoid paying child support or alimony, a judge can base the monetary award on what the spouse is capable of making based on education and past experience and employment history.
- List your assets: What is yours? Do you know what the “marital property” is that the court will divide between you and your spouse? This is a complex area that includes bank accounts, retirement plans, investments, real estate, homes, debts and more, and the distribution of these assets is one of the most complex challenges in a divorce. Some of the best legal counsel our attorneys can provide is in equitable distribution of property and assets.
- Get a grip on taxes: Even if the property division sounds fair and good for your situation, sometimes tax penalties can be an unwelcome surprise. For instance, if you get the house, will you be able to pay property taxes? Do you know what portion of your post-divorce assets will be taxed and what is tax-deferred? Before you agree to a marital settlement, it is critical that you understand and prepare for tax consequences.
- List your expenses: Establish a budget that will cover all of your monthly expenses. Index each and every payment you will need to make in a month, once you are living on your own.
These are just a few steps you should take to protect yourself and develop a sense of assurance when dealing with financial uncertainties that accompany the breakup of a marriage.
The TK Law Commitment
Divorce can be a painful experience. It is further complicated when one spouse seeks to hide information for his or her advantage or to otherwise exploit an unsuspecting partner. Keeping records in divorce is key to proactively protecting yourself. The other important way to help yourself is to retain a qualified divorce lawyer. You need an attorney who is ready to go to bat for you, who is skilled in identifying deception and can uncover the truth so the court knows you are the innocent party.
At TK Law, we are connected with a team of experts who help us help you. We do the legal work and involve you only as much as you wish so that you can focus on other matters in your life.
We strive to earn your indispensable trust with the purpose of becoming the one firm you call on for any of life’s legal challenges. We hope you contact us today.
Get Help with Legal Issues Now! - Call 855-Kramer-Now (855-572-6376)
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