Divorce has become an increasingly common occurrence in today’s society. Often times the transitional period of a divorce can create the most tension between you and your spouse. In order to protect yourself and your money, awareness of your social media presence and bank accounts is required.
While every case is different and each person is unique, there are some general steps that every person can take to help protect their interests during this transitional period.
Remember that every text message, Facebook message, tweet, email, photograph or Instagram post could one day be an exhibit in court. While tensions and emotions are running high during this difficult period, it is essential that you maintain civility in all of your communication. If your spouse is not following the same advice, remember to make copies of any demeaning or inappropriate messages and photographs and share them with your attorney.
Many people hold joint checking and savings accounts during their marriage. Keep in mind that if your paycheck is directly deposited into a joint account, your spouse has the same access to that money as you do. Your spouse could also withdraw that money minutes after the direct deposit hits. If you have money in a joint savings account, your spouse has the ability to empty that account and control all of your savings while you may be left without additional cash to pay for essentials.
Along those same lines, many people who are married have joint credit card accounts or have credit cards in solely in their name and have a spouse listed as an authorized user. There is nothing stopping a spouse from making extravagant purchases and then not agreeing to pay off the new charges on the next bill. A credit card company may not care that an authorized user has charged thousands of dollars to an account they had permission to use. The credit card company will want the bill paid. It is important that you remember to cancel joint credit cards or remove the spouse as an authorized user.
If you have any questions or concerns about the process of a pending divorce, please contact Sandy Steeves and he would be happy to set up a consultation.