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How an attorney can help you safeguard assets in divorce

Residents of Missouri may be interested to learn that the divorce of Kim Kardashian and Kris Humphries came just a few months after the wedding, and the Kardashian mogul had to take steps to protect her assets in the divorce. The marriage lasted 72 days, and he asked for a share of his wife's assets in the divorce. While a settlement was reached between the couple, a complex asset divorce was avoided because she knew how to protect her assets.

Ms. Kardashian had help as she moved through the divorce process and severed ties with her husband. Celebrity attorney Laura Wesser worked closely with her to protect her assets in the divorce. Understanding the steps they took before and during the divorce can help anyone facing a high asset divorce protect their accounts and personal interests.

It is important for spouses to understand each other's finances before entering the marriage. With a clear picture of assets, retirement plans and real estate, a couple can have a solid prenuptial agreement drafted that will protect both of their interests. It is also advisable to keep credit separate. One person's bad credit can harm another's when they start applying for joint credit, and joint bank accounts are often disputed as property interests discussed in the divorce. However, separate accounts protect credit ratings and make it easier to protect personal assets.

At the same time, any property purchased together during the marriage should have both names on it to help make asset division more equitable in the event of a divorce. Experts also recommend keeping records of all financial documents for accounts, home appraisals, life insurance policies and even retirement plans. People with large assets should strongly consider a prenuptial agreement to protect their finances. Finally, people are urged to change their will as part of the divorce process to ensure that assets go to the proper heirs. Attorneys in Missouri may help engaged couples draft prenuptial agreements, and they may also work with divorcing couples to help ensure that their assets and personal interests be protected.

Source: Go Banking Rates, "6 Ways to Protect Your Assets and Bank Accounts from a Nasty Divorce Like Kim Kardashian Did Read more: How to Protect Your Assets in a Divorce Like Kim K Follow us: @GoBankingRates on Twitter | GoBankingRates on Facebook", Stacey Bumpus, May 05, 2013