When a couple determines that they should call it quits, there are numerous things to consider during the divorce process. One of the first things to consider is how both parties are going to approach the process. For some, litigation is the best route. This may be because the spouses do not see eye-to-eye or they have a number of disputes. For others, a more cost effective way to reach an amicable divorce settlement is through a collaborative divorce.
Whether it is through mediation or arbitration, the collaborative law approach for dissolution allows the couple to address all the divorce issues they have in a civil and collaborative manner. Although they are able to work together to achieve a divorce agreement, there are still precautions that each spouse should take during the process.
Each party should protect his or her finances and personal items during a divorce. Even when the divorce process is going well and the soon-to-be ex-spouses are able to set aside their differences and work together, the couple should always take action to protect their interests and rights. This means no longer sharing personal information or items such as credit cards and passwords.
While trust and collaboration is a great asset during dissolution, an ex-souse could access personal information and could carry out unintentional actions. If the ex knows the password to a social media site, that person could log in and change information or post on the account holder’s behalf. Although this action might appear trivial, even minor things can create additional disputes and possible post-divorce issues.
The same scenario might occur with passwords to more serious and personal information such as a bank account or credit card information. This type of shared information paves the way to financial problems, especially if an ex becomes spiteful post-divorce.
For couples who seek to utilize the collaborative divorce process, they should be sure they fully understand what it means, how it could benefit them and possible pitfalls they could encounter. This knowledge and preparation will help ensure a better outcome and help protect their interests in the divorce.
Source: Biz Times, “Divorcing? Protect your finances, personal data,” Jason Alderman, July 15, 2014