How can you protect your assets from being taken in a divorce or child support case?
How can you protect your assets from being taken in a divorce or child support case?
There are some pretty straightforward steps you can take to protect your assets and keep them out of your spouse's or ex-spouse's hands in the event of a divorce or child support case. If you have a prenuptial agreement that protects your assets, they'll stay protected during the proceedings. If you don't have a prenup, there are still options available. You can set up various accounts that are protected from civil lawsuits, so that even if you're ordered to pay alimony, your spouse can't go after these assets to get it back. They can also be protected in the case of future divorce proceedings by putting them in living trusts, which only the trust creator has access to. Trusts are especially important for people who own their own business—it allows them to provide for their family while keeping their business functioning smoothly during the process of estate planning. There may also be certain tax benefits to setting up these sorts of accounts and trusts—you should consult with an attorney to make sure this is all done correctly, as well as whether there are any other ways (like creating a will) that you could benefit from protecting your assets before the worst happens.
If you need a Divorce and Assets Lawyer, please call this law firm for a free consultation.
Ascent Law LLC
8833 S Redwood Road Suite C
West Jordan UT 84088
(801) 676-5506
