Divorce when your spouse handled the finances

On Behalf of | May 13, 2022 | Child Support |

In many marriages, both people work together to handle the finances. But there are also many couples who essentially relegate that duty to one or the other.

If your spouse was the one who handle all of your financial decisions and budgeting, and you are now going to get divorced, be very careful that you understand what you deserve in the property division process. It can be much more complicated for you.

Why is it more difficult?

This difficulty can arise simply from the fact that you may not understand exactly what assets you have. For example, one common step is to close joint bank accounts and begin using personal bank accounts. But do you even know how much money is supposed to be in your joint bank account? If your spouse closes it without telling you, do you know what they took?

This can be even more complex if your spouse has assets that don’t get used on a daily basis. Maybe it’s more than just a bank account, but they also have accounts for their business, they have an investment portfolio, the two of you have retirement savings together and your spouse has even put some money into cryptocurrency. 

You may never have any interaction with any of these accounts, but they are still joint assets and you may deserve some of them in the divorce. Not only do you need to know what assets you’re entitled to under the law, but you may have to start simply by figuring out which financial assets you even own.

Working through the process

You certainly don’t want to overlook anything and wind up not getting assets that you rightfully deserve. Make sure that you work through this process carefully and understand all of your legal options