Things to know before a divorce
Planning for a Divorce
It’s that time of year again, the time in between summer and the holidays when commonly more people decide to start divorce proceedings. You may have been considering going forward with a divorce for a while but you have been waiting for the “right time”. No matter when or why you decide to get a divorce it can be a difficult period to go through. The more prepared you are for this the better. A divorce is not something you want to approach blindly but instead you should do your homework on the subject. We’ve comprised some advice that may help you once you have decided you want a divorce.
Your first inclination may be to immediately hoard any financial assets in preparation of dropping the big news to your spouse. Being smart with your money is different than hiding your assets. Do not hide money since it will be found during the divorce and it will cause you to appear dishonest. If you feel as though there is a real concern for losing financial assets, than you should speak to a divorce attorney who will guide you on the preservation of assets before proceeding with the divorce.
The Wall Street Journal advises that you should keep track of all assets, income, debt, and living expenses. Make hard copies of any investments, bank accounts, pay stubs, art or jewelry appraisals, or any debts you as a couple may owe. Switch any of your bank, credit card, or any other accounts over to electronic statements to stop your spouse from being to keep track of your personal finances.
Keep track of credit.
Keeping track of your credit score will not […]