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How To Protect Your Money pre-divorce

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What Steps Should You Take To Protect Your Money When It Comes To A Divorce?

It’s not often you hear of an easy divorce. One of the most common issues within a divorce seems to be money so we think it’s important you know what moves can be made to protect your money pre-divorce.

protect your money pre-divorce

To start with, divorce can be very expensive. For example, Alec Windenstein and Jocelyn Perisse’s divorce cost a whopping $2.5 Billion.

Here’s a list of the most expensive divorces in the world:

  1. Alec Windenstein and Jocelyn Perisse ($2.5 Billion)
  2. Rupert Murdoch and Wendi Deng ($1.8 Billion)
  3. Rupert Murdoch and Anna Maria ($1.7 Billion)
  4. Bernie Ecclestone and Slavica Ecclestone ($1.2 Billion)
  5. Adnan Kyashoggi and Soraya Kyashoggi ($850 Million)
  6. Steve Wynn and Elaine Pascal ($740 Million)
  7. Craig McCaw and Wendy Petrak ($460 Million)
  8. Mel Gibson and Robyn Moore ($425 Million)
  9. Robert Johnson and Sheila Crump ($400 Million)
  10. Roman Abramovich and Irina Malandina ($300 Million)

You’ll be happy to know that there aren’t many divorces that come anywhere near to those prices. That’s because most of us don’t have to decide on ownership of jets and New York holiday homes. In reality, the current average price for a divorce in the UK is £550. Nevertheless, regardless on the actual figure, money is still involved in most divorces cases and you probably won’t have to give it away.

If you think that you and your partner have reached the end of the road but don’t think they are deserving of your liquidity and assets, then there are a few steps you can take to protect your money pre-divorce.

Some Steps To Protect Your Money Pre-divorce

Do You Have A Prenup?

Even though it isn’t currently legally binding in the England, it is possible for a judge to take a prenuptial agreement into account when they’re overlooking a case. If you are currently in a happy marriage, it would be a good idea to review one as the marriage goes on.

Make Sure That Your Kids Will Be Happy In The Short term

You need to make sure that your kids will be happy in the short term. For example, you could pay for the deposit on their new home or help with the cost of university.

Don’t Forget About The Kids In The Long Term

Do you know that you can set up a pension for your children with an initial lump sum? A lot of people don’t and we think it’s a good idea. This can help you can be prepared for the future and give you peace of mind.

Put Your Pension Contributions to a halt

Before you go rushing into cancelling anything, make sure you’re not prohibited from re-joining the scheme. You should also look for legal advice for this as it can be argued that pension contributions post separation are not looked at.

If you have any questions regarding anything you have read then don’t hesitate to contact us.

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