When couples enter into matrimony, they don't plan to end it through a divorce, but unfortunately, it happens all too often. But if this happens to you, the last thing you want to worry about is money. That's where divorce attorneys come in. They work hard to protect their clients' finances and ensure that they are taken care of during and after the separation. In this article, you will learn what these lawyers will do to protect you from financial problems after separation.
Changing Your Beneficiaries
Before separation, your spouse may be listed as a beneficiary on your retirement accounts, life insurance policy, and other financial accounts. They may still be entitled to these benefits if you don't remove their names. Fortunately, a lawyer can update your beneficiaries and ensure your partner has no right to your assets in case you die. They'll review your accounts and make the necessary changes to protect you. If you have a valid testament in place, and your partner is named as an heir or executor, they'll modify it to reflect your current wishes and ensure they don't inherit anything from you.
Ensuring You Get Alimony
If you were not a primary earner in your household, your spouse might be ordered to pay you alimony. This financial support is meant to help you maintain your standard of living after separation. The amount you receive will depend on many factors, including the length of your marriage, your ex-partner's income, and your needs. An attorney will negotiate on your behalf to make sure you receive the alimony you deserve. They will also help you understand its tax implications to enable you to plan accordingly. If you had separate property before marriage, they'll make sure it isn't divided between you and your ex-spouse during the settlement.
Ensuring You Get Child Support
If you're the custodial parent, your attorney will ensure your kids receive the support they're entitled to. In some cases, they may need to go to court to fight for every penny, while in others, they may hold the non-custodial parent accountable for their payments. Either way, with a lawyer by your side, you can be sure that your children will have enough money to go to school, eat healthy meals, and participate in extracurricular activities.
The financial stress that separation brings can be pretty overwhelming. This is why it is crucial to get assistance and know your financial options. A divorce attorney can help you navigate this often-complex world to enable you to make the best decisions for your future. Contact a divorce attorney to learn more.
My husband has worked in the construction industry for nearly twenty years. Three years ago, he decided to open his own business performing renovation work. Having so much experience helped him land clients and showed him that he has to protect himself from the clients that aren't so easy to please. We started working with an attorney in the beginning to have all of the contracts drawn up and have called when things go badly with clients. This blog will show you what you need to do to protect yourself from legal liabilities when you work as a contractor in today's world.