In the United States, approximately 50% of marriages result in divorce. Ideally, a married couple can resolve their problems, however, this is not always possible. If you are considering divorce, it is extremely important that you understand how to protect yourself and your children in the early stages.
- Make a list of all your assets and liabilities.
- Obtain and make extra copies of:
a) All state and federal tax returns from the last five years
b) Corporate tax returns you or your spouse filed within the past year along with any attachments or schedules.
c) Insurance policies- including: life, automobile, umbrella, and medical insurance policies.
d) Statements from the past year of all credit cards in your name, your spouse's name, and in joint name.
e) A list of all bank accounts, and bank statements for the past year.
f) Pensions, profit sharing, and 401K plans.
g) Stock accounts. - Establish credit in your own name.
- Do not liquidate any large assets, sign any business loans, or enter into any large contracts, such as purchasing a new house.
- Try to avoid any physical or verbal altercations. If you are having an affair, be discreet about it. Do not attempt to conceal any documents from your spouse.
- Find a lawyer.
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