As seen in the October 2008 issue of St. Louis Woman Magazine view article
It’s all about the fairytale romance. Two people meet, fall in love, get married and live happily ever after. Too bad it doesn’t always happen that way. And when it doesn’t, it’s important to be prepared so you can protect your happily ever after.
Cynthia Albin, a divorce attorney at Bauer Soule Garnholz Albin, says she’s never heard of anyone getting married with the intention of getting divorced, but it doesn’t hurt to be prepared just in case. And this preparation can begin before and continue through the marriage.
“I see a lot of women who aren’t
aware of their financial situation
during the marriage. The husband doesn’t
need to be in total control.”
“Before getting married, women should look at their own financial situation,” Albin says. “They should review what they own as a single person and assess what they’d want to retain in a divorce. They should keep those items in their own name so they don’t become part of the marital estate.” After the big day, Albin advises women to remain financially involved. “I see a lot of women who aren’t aware of their financial situation during the marriage,” she says. “The husband doesn’t need to be in total control.”
Albin also suggests women establish their own lines of credit by obtaining a credit card in their own name. That way, “It’s available to you in case you need it.”
Tricia Susi, a divorce lawyer at Zerman & Mogerman, LLC, calls this process of financial awareness and preparation a “fallback plan.” She advises her clients to have such a plan because many women are surprised by how long the divorce process takes.
“It doesn’t happen lickety split,” she says. In Missouri, divorce papers need to be on file with the court for 30 days. If the couple is in agreement, Susi says the divorce can be finalized in as few as 31 days. However, that doesn’t happen very often. Susi estimates the average time to finalize divorce is between three and six months, but that varies depending on the number and type of issues that arise in the settlement period. But even the most organized women can’t prepare for everything in these situations, Susi says.
“Very seldom does something not come up,” she says. “And this process is one of the hardest things a person will ever have to go through in life. That’s why people like me are here to help work them through the process.”
Reprinted with permission from St. Louis Woman magazine, October 2008