Common divorce issues for Maryland couples choosing to end their marriages run the gamut from child custody to property division to child support and alimony. These divorce issues can become contentious for some couples; especially when large sums of money and other marital assets are involved. This can be particularly true whenever one of the spouses in a divorce case is known to have a bullying personality. With that being said, however, there are steps that the less aggressive spouse may be able to take to help protect their financial interests during property division.
The very first step that may help protect a person financially is to begin saving up money that the other person cannot touch. This may involve finding employment if that person has been focused on raising children rather than working. Alternatively, an individual could begin squirreling money aside into a separate account just to provide a safety net in the event that he or she decides to take the plunge and file for divorce.
Another important step is to copy, copy, copy — make copies of all financial paperwork and any other relevant records that a couple shares. This can help establish an accurate sense of what the marital assets entail; something that could help keep the other spouse honest in the event that a division of assets becomes necessary. Keep in mind that this may involve digging a little deeper than a person has in the past in an effort to seek out the entire truth.
If a Maryland spouse hasn’t already, establishing a separate bank account the other partner can’t access could be invaluable. On the flip side, closing out joint credit cards and bank accounts may also be helpful, since it can start to establish that separation of finances that a divorce necessitates. Divorce issues may be complicated and challenging to navigate, but thinking ahead can help set a spouse up for a greater chance of financial success.
Source: USA Today, “Protect your finances while divorcing a bully,” Elizabeth MacBride, June 23, 2013