Executive Divorce Tip 5 Know Thy Separate Property

Tip 5  Know thy separate property.

Many times, a spouse will contemplate divorce for many years. That same spouse often works hard to protect property from creditors. But perhaps the biggest potential liability to a person’s separate property estate is mismanagement of the spouse’s separate property (and his or her spouse becomes a de facto creditor). This mismanagement can turn a lucrative non-divisible separate estate into a divisible community property estate. A good family attorney and forensic accountant can give invaluable advice to cut off this problem.