WHAT SHOULD I DO AFTER MY DIVORCE?

Dear Hindell,

My ex-spouse and I recently signed our Separation Agreements and finalized our divorce. While I’m glad the divorce proceedings are over, is there anything else I should be doing over the next few months to ensure my ex-spouse is complying with the terms we negotiated?

Sincerely,

Finalizing in Framingham

 

Once the divorce is final, many people put away their paperwork and hope never to look at it again.   From a legal perspective this might mean you have left money on the table because you failed to get assets or other benefits negotiated in the divorce.   Within four to six months after the divorce it would be wise to review the terms of the divorce again, to be sure that you received everything you should get, and that both parties are complying with the negotiated terms, or understand that you have chosen not to comply by agreement.

To ensure that you get everything you are entitled to; understand the remedies available if your other spouse fails to comply; or if there has been a material change in circumstances or the law which warrant a change in the terms of your divorce, please take a deep breath and review the divorce agreement.  Keep a copy of the signed Agreement along with the last signed Financial Statements in a special folder for easy access, and see an attorney annually for a review.

Best wishes,

Hindell Grossman
Grossman & Associates, Ltd.
Newton & Nantucket
617.969.0069

WHAT ARE MY OPTIONS IF I THINK MY SOON TO BE EX-SPOUSE MAY WITHDRAW FROM OUR JOINT ACCOUNT?

Hi Hindell,

My spouse and I are in the early stages of divorce, and I’m afraid my spouse will withdraw from our joint account.  What should I do? 

Sincerely,

Deciding in Dorcester

In most cases, depending on the facts and circumstances a joint account is a marital asset which will be divided equally, even if you each contributed different amounts.   If you fear that your spouse will withdraw marital assets from a joint account, you can consider several options.  First, after considering what amounts might automatically be withdrawn from the joint account, you could withdraw 50% of the funds yourself, leaving your spouse the other 50%.   Second, you could stop depositing into the joint account and open a separate account for your earnings.  Third, you could mutually agree to account for all expenses, and divide the balance.  

Best wishes,

Hindell Grossman
Grossman & Associates, Ltd.
Newton & Nantucket
617.969.0069