Protecting Your Finances During a Divorce in Poland: Essential Steps and Practical Tips

10.11.2024

Protecting Your Finances During a Divorce in Poland: Essential Steps and Practical Tips

If you are going through a divorce in Poland with a Polish spouse, it is crucial to take steps to secure your finances. Protecting your income and savings is key to ensuring your financial stability during this challenging time. Here are the essential steps to follow.

Separate your financial resources

An important first step is to transfer your income and savings to a separate bank account that only you have access to, and that your Polish spouse does not know about. This will help you secure your funds and better manage your finances during the divorce.

Identify and assess the value of joint assets

It’s essential to understand where your joint savings, investments, financial securities, and other valuable items are stored. A clear understanding of your joint assets will allow for a fair division and better protection of your rights during the divorce process.

Identify any joint debts

It is important to identify all joint debts, such as loans or credits, so that you can evaluate their impact on your finances after the divorce. This will help you prepare for a fair debt division and understand the financial implications of dividing liabilities.

Secure copies of important documents

Make sure to secure copies of financial documents related to bank accounts, insurance, credit cards, financial securities, as well as proof of your contributions to joint or separate property owned by your spouse. These documents may be crucial to protect your interests during the divorce.

Keep other important documents related to assets

It’s also important to retain copies of documents regarding significant acquisitions such as property or vehicles, as well as any gifts made to your separate property. These documents will establish the ownership of these assets and can be helpful during the division of assets in your divorce process.

Update security measures for your bank accounts and cards

After separation, it is important to change the PIN codes for your bank cards to ensure the security of your bank accounts. Be sure to also update information on accounts that may belong to your children.

Revoke powers of attorney

If your Polish spouse has power of attorney for your personal account, it is important to revoke it. This will limit their access to your funds and protect you from actions that may harm your finances during the divorce.

Limit access to joint accounts

Consider removing your details from joint accounts and transferring a portion of the funds to a personal account. While this action will not protect you from existing debts, it will help secure your share of assets during the divorce.

Inform creditors and your bank

By informing creditors and financial institutions about your situation, you can reduce the risk of your spouse incurring new debts on joint accounts during the divorce. This will allow these institutions to better consider your rights and protect your financial interests.

Seek a lawyer in Poland

A key step during the divorce process is to consult with an advocate in Poland who specializes in family law. A lawyer can guide you through the division of assets and help you protect your financial interests. The SOS Legal law firm, specializing in inheritance matters, can also be helpful if inheritance or gift-related issues arise during your divorce proceedings.

Consider mediation before entering legal proceedings

Before embarking on a lengthy and costly legal process, it is highly recommended to explore mediation. Family mediation allows conflicts to be resolved more quickly and with less hostility, often leading to better outcomes for all parties involved, especially in a divorce.

Taking these steps will help you better protect your finances and ensure your financial security following a divorce with a Polish spouse.

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