Divorce Advice for Men | Fathers Rights Divorce | Child Custody

Asset protection is an area of law in which your attorney works with you to ensure that the assets you have worked to accumulate are legally safeguarded. 

Divorce is a major financial event that can have repercussions for years to come, as it often is difficult to financially recover once your assets are split. 

Financial adviser Dan Danford, CFP®, CRSP®, MBA, shares his financial tips on what you can do to make this transition a little easier financially as you try to protect your assets in divorce.

Note: Cordell & Cordell divorce attorneys offer asset protection.

Question:

Do you have any financial advice on divorce when it comes to dividing retirement and mutual funds?

My wife and I have reached a proposed agreement to divide the retirement accounts and that each of us will retain any stock, bond, or mutual fund that is held in one person's name solely.

Can our proposed financial settlement overrule any state laws that require us to divide all the property we acquired during the marriage?

By Erik Braunitzer

Douglas Elliman Real Estate Company, Agents for Bronx Rentals

If you and your spouse have decided to call it quits on your marriage, you'll be joining the line of about 50 percent of other couples that decide to go their separate ways.

The process of a divorce is not an easy one, and usually the hardest part of it is figuring out what property belongs to whom.

We're not just talking about who gets the fine china from the wedding, but even big purchases such as the marital home and vehicles are all considered and depend on the court for who gets what.

Some property is considered community property (or marital) while other property is classified as separate property.

It is important to know the difference to make sure you get your fair share at the end of your divorce case, including what to do when separate property becomes community property and how asset tracing can help your case:

Question:

Can my wife receiver rights to my intellectual property through property division?

I hold copyrights on several books I've written prior to my marriage and have copyrights on some materials written during my marriage.

Is intellectual property considered marital property? If so, can I transfer copyright ownership to a trust to prevent this?

Question:

I'm looking for separation advice for men on how to handle the property division of a car I bought my wife.

I bought her a car as a gift prior to our separation, even though she already had a good, reliable car. The car is in my name, but she says I cannot divest the asset because it was "gifted" to her.

If the vehicle I purchased is considered a "gift" is it her separate property or is it marital property subject to division?