What Can I Do To Protect My Finances At The Beginning Of My Divorce In Florida?
When many people start thinking about a divorce, one of their first considerations
is what the divorce will do to their finances. It’s true that divorces
can be financially devastating. Instead of paying for one household, a
couple now has to pay for two, in many cases with the same amount of income.
There are some steps you should take at the beginning of your divorce that will make things easier down the road. First, you should assemble your financial documents. This includes your bank statements, your tax returns, credit card statements, mortgage statements, and other financial documents. It may be a good idea to keep them in a safe place out of the house in the event that the divorce turns ugly and you are later unable to obtain the documents.
You should also keep an eye on your credit score. If you don’t have good credit, you can’t get a loan for a car or house, or possibly even rent an apartment. You should correct any errors you find, and look for any joint credit accounts. It’s important to protect your credit during a divorce.
Your next step is to open accounts in your own name. Set up your own bank accounts and credit cards. Any joint accounts should be closed. Hopefully, you two can agree how those funds will be divided. If you can’t, the court will make a ruling on the division of those funds.
Posted By
Dale L. Bernstein, Chartered Law Office
Categories:
There are some steps you should take at the beginning of your divorce that will make things easier down the road. First, you should assemble your financial documents. This includes your bank statements, your tax returns, credit card statements, mortgage statements, and other financial documents. It may be a good idea to keep them in a safe place out of the house in the event that the divorce turns ugly and you are later unable to obtain the documents.
You should also keep an eye on your credit score. If you don’t have good credit, you can’t get a loan for a car or house, or possibly even rent an apartment. You should correct any errors you find, and look for any joint credit accounts. It’s important to protect your credit during a divorce.
Your next step is to open accounts in your own name. Set up your own bank accounts and credit cards. Any joint accounts should be closed. Hopefully, you two can agree how those funds will be divided. If you can’t, the court will make a ruling on the division of those funds.