If you think your marriage could be heading to a close, then you should start preparing for the worst. This is usually something you can just sense. You’re not just not talking to each other, you’re physically not acknowledging each other in the household and when the talk turns to money, both of you seem to feel like the other is hiding something from them. Chances are, if you don’t start to plan your finances, they will be in the firing line if she decides to pull the plug on the marriage. Dads have a right to protect themselves financially and give their children a better life, even if they are no longer together with mom. Here’s what to do fellas.
Precious stones and metals
Some of the most prominent divorce cases have involved the separation of assets involving jewelry. The famous divorce of Margaret Campbell the Duchess of Argyll had a three-strand pearl necklace that was the center of attention, should be cause for thought. It’s highly recommended that whatever kind of jewelry you have, be it watches, necklaces, bracelets, earrings or rings, you should keep it locked in a safety deposit box and the knowledge of this kept to yourself. Chances are that in the divorce any and all jewelry that is eligible for asset distribution will be called up, but you can do certain things you can do to avoid them being called up.
A different financial life
Many people fall into the trap of accepting the finality rules set for them. But with something like the DTSS review you can see that changing your status as a citizen, to something that is freer and lax, is beneficial to your savings. Firstly, you get back the birth certificate trust which is something the FED holds for every US citizen. You can then choose to also, no longer be subject to certain fees, such as court fees and other taxes. This can help you to save a lot of money over the years and thus, eventually begin to accumulate more personal wealth. Because you are now the owner of the trust and you don’t pay certain fees that citizens would, and you save on taxes, your wealth begins to be created from a portion of finances that cannot be touched in divorce cases.
Invest in portfolios
Portfolios are great investments because they spread the risk wide. You don’t need to worry about losing so much in one part because another part of the portfolio will always balance out the situation. So, investing in property, precious metal, commercial real estate, businesses, infrastructure projects and more, in the form of portfolios will give you two benefits. Firstly, it will usually mean you always make a profit every single year. The second is, the true value can never truly be summarized. So if a portfolio comes into the question in your divorce, chances are you can keep them but pay an arbitrary sum of half of what they’re worth or could be worth.
One could argue that you shouldn’t be so cynical but, if you were to end up in court, you don’t want to be taken to the cleaner. So invest wisely and protect your personal wealth, you will need it to help your children one day.
Contributed post. Feature image via Pixabay.