Orange County Divorce Lawyer Offers Ways to Protect Assets in a Divorce
Protecting assets during a divorce can be accomplished in several ways, such as wills, trusts and premarital agreements. But a court does division of property if there is no premarital agreement in place, and this would mean going through and including bonds, retirement money, stocks, and any other physical property.
Orange County, CA (Law Firm Newswire) November 14, 2010 - The steps one must take to protect property will decrease the likelihood of unnecessarily losing it all during a divorce. In the end, all of the personal property from the marriage is ciphered through and appraised for its value.
Experts say that people who want to protect their assets should remove all property from the home that is rightfully theirs and store it in a safe place before the other spouse can file for divorce. This can prevent the other spouse from accessing the assets and removing it from the other spouse’s possession for his or her own personal gain. This especially includes heirlooms. It is best to photograph and list heirlooms before they are removed from the family residence for good accounting practice and provide the proof that these items were received as heirlooms and gifts.
The home, vehicles, boats, kayaks and jet skis, etc., that the couple has owned will be considered community property. It is also important to make sure that there are no outstanding tickets on any of the vehicles and that there are no liens that have been placed on jointly owned real estate. This should be done under the advice and guidance of an experienced divorce lawyer because they will be able map out the whole divorce and provide guidance on how to effectively protect any assets.
“For legal advice about your specific situation, you should seek a qualified lawyer who practices family law. Divorce can be a daunting and emotionally draining event, but with you and your lawyer evaluating your situation can better position yourself to help fight for your rights and what’s rightfully yours,” said Orange County divorce attorney, Gerald A. Maggio from The Maggio Law Firm.
The Maggio Law Firm
38 Corporate Park
Irvine, CA 92606-5105
Call: (949) 553-0304
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