- Date : 04/09/2023
- Read: 3 mins
Regardless of the emotional toll it takes on you, thoroughly understand men’s rights in a divorce and also how to protect your finances during the entire episode.
Regardless of the overwhelming circumstances during divorce proceedings, it is crucial to approach financial matters with rationality and careful planning. Hiring an experienced and skilled family lawyer is the first step toward securing financial interests. A lawyer can guide you on how to protect yourself in a divorce, ensuring that your rights and assets are guarded. Thoroughly understand men’s rights in a divorce to avoid any traps that may arise during divorce proceedings.
Divorce is emotionally taxing. So, taking legal help at the earliest is advisable
Approach financial matters rationally, obtaining as many relevant documents as you can
If children are involved, financial decisions have a powerful impact on the child’s life
If a situation arises, a husband can deny alimony and a share of his property and assets
Men, protect your finances during divorce
Obtain copies of all financial documents, including bank statements, tax returns, investment accounts, property deeds, and retirement savings records. These documents will help establish an accurate picture of your financial situation, enabling you to negotiate a fair settlement. As soon as you anticipate a divorce, open a separate bank account in your name to receive your income and manage personal expenses. Thoroughly assess all marital assets and debts. Identify which assets are jointly owned and their values. Make informed decisions regarding what you are willing to negotiate for and what you want to retain post-divorce. Review and update beneficiaries on life insurance policies, retirement accounts, and other financial instruments. Joint credit cards should be closed or frozen to prevent future liabilities for your spouse's actions.
Also Read: Salary protection insurance in India
Legal rights of the husband during divorce in India
Divorce-related law in India entails the husband with specific rights for fair proceedings. If the husband jointly owns property with the wife, he has the right to claim his share during the division of assets in a divorce settlement. Under Indian law, husbands have the right to claim maintenance from their wives in certain situations. Father-child custody issues and visitation rules are well-defined in the Indian legal system. However, the court decides on child custody based on the child's best interests, taking into account factors such as the child's age and overall welfare. In cases where the wife has inflicted cruelty or caused harm to the husband, he can seek compensation or damages for the physical or mental suffering endured during the marriage.
Thus, by hiring a competent lawyer, gathering crucial documents, and making informed decisions, men can better protect their finances during a challenging divorce.
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Also Read: Secure your child’s financial future