If you can separate the emotion from divorce, in many ways it is much like a business transaction, such as a partnership that is being dissolved. When business partners separate, they make sure that the finances and assets are divided equitably. An Orange County family attorney can help you with asset separation to ensure that your rights are protected.
Spouses almost always merge their financial affairs, so that bank accounts, credit cards, and investments are in both names. These accounts are a part of the marital property, and divided by the court. In the meantime, it is important to freeze savings and credit card accounts. This will protect both spouses. In some cases the two spouses may be able to come to an agreement to close these accounts and merely split the money.
Setting up Separate Accounts
One of the first things your Orange County family attorney will advise you to do is open a checking account solely in your name. This will provide you with money you can depend on that will be available when you need it. A separate account will also help set you on the path to financial independence from the relationship. It is also a good idea to set aside some cash in a safe place where only you have access.
If You Have Questions
If you need further information on this or another family law matter, Orange County family attorney Bethanie Fanti will be happy to speak with you. Don’t hesitate to call at 714-505-3108.