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Scroggins Law Group

What To Know Before A Divorce

Hey folks, Mark Scroggins with Scroggins law group wanted to remind y’all when I’m answering these questions that that y’all have posed, remember that that does not create an attorney client relationship between either myself or Scroggins Law Group and anyone out there. So this is just providing some general thoughts on the questions that y’all pose. What is the top tip you would give me if I was contemplating divorce? So the top tip I would give anybody is know your finances, okay? To the extent you can, you need to know what you’ve got, and where it is. All right. So if you have not been the one, and this happens frequently, where you have one spouse that takes care of all the finances, you need to make sure that you have got that information. So you need to talk to your spouse, this is kind of setting yourself up for success by making sure your ducks are in a row. Let’s say that the husband is taking care of all of the finances, okay, his spouse, that is seeking the divorce needs to go to them and say that, hey, I need to know what we have. What do we have in retirement accounts? What kind of credit card bills? Do we have one? Are they paid up? Do we have balances on them? Are they joint cards? Or am I just an authorized user? That’s a huge thing. Okay. Because let’s say the other party is wanting to cut things off before they actually fight. Can they do that? Absolutely. They can do that if they are the owner of the card, and you are merely an authorized user on it now, what if a court makes them add you back to that account so that you can use that card for attorneys fees and other expenses. Maybe, okay, it is nothing more than a definite maybe. So it depends on what the circumstances of your case are. So make sure you know where your finances are, if you are just an authorized user go out and get your own credit cards. Okay? Those are things that are going to be really important. Make sure that you talk to your spouse about what y’all have in retirement accounts and other trading accounts. And do you have any other assets? Do you have oil and gas assets? Do you all have other complex assets? Like are you involved in any REITs? Which are real estate investment trusts? What are those REITs own and how do they trade and how can you get out of them? Knowledge is power. So the more knowledge that you have, the better off you’re going to be? And specifically the more knowledge you have about your finances, the better you’re going to end up at the end of the day coming out of a divorce case. 
214-469-3100 The divorce lawyers of Scroggins Law Group are here to advocate for you. Call us today for a consultation

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*Mark L. Scroggins is *board-certified in family law by the Texas Board of Legal Specialization. Unless otherwise noted, other attorneys are not *board-certified. **Super Lawyers (a Thomson Reuters service, awarded to Mark Scroggins 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021) The information in this article (OR ON THIS WEBSITE) is for general information purposes only. The information contained herein is not guaranteed to be correct, complete, or up to date. You should not rely on any information in this article, but should consult a licensed attorney for legal advice regarding your specific case. Nothing in this article should be construed as legal advice for any individual case or situation. Viewing of this information is not intended and does not constitute an attorney-client relationship.

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