Are you planning to get a divorce? Here is a Preparing for Divorce Checklist so you don't forget to tend to these important matters.
Even if you have not shared your passwords with your spouse, they likely know you well enough to guess your passwords better than anybody. Update all of your passwords to something that your soon-to-be-ex will not be able to guess.
It is not uncommon for married couples to share (formally or informally) an email address. As you move from a joint identity to a separate one, it's important for you to be able to use email freely. This is often a cost-effective method of communicating with your attorney.
Credit Karma is a free resource you can use to monitor your credit report. It also allows you to monitor your credit score. As you review your credit report, make sure there are no surprises. If there is anything that should not be in your report, you can dispute it with the creditor.
If you only have joint bank and/or credit card accounts, it is important that you establish accounts that are in your name only. Many of my clients are surprised to learn that they do not have a credit card in their own name (even when they have a card sitting in their wallet). Just because you have a credit card with your name on it, does not mean it's your account. It could mean that you are just an authorized user on the account. If you have not applied for a credit card yourself, then you should do so. It's important that you have a credit card that is in your name only.
If you are still living together, it is a good idea to have your mail directed to a post office box. This way you don't have to worry about your soon-to-be-ex going through your mail.
This blog is full of great information. Check out our Resources page for additional online resources. We offer both free and paid webinars and e-courses to support you throughout the divorce process.
Start a binder or a folder and begin collecting the financial documentation you will need for your case. This will include the last three years of tax returns, recent pay stubs, all account statements, etc. You will basically need to document anything with a dollar sign on it.
If you don't have access to all of the financial documents you'll need, don't fret. These can always be requested through the discovery process if necessary.
Looking for a more comprehensive divorce checklist? Download your copy today.
We get that divorce can feel really hard and leave you with a lot of questions about how to handle your finances. After all, this is the reason Leah Hadley founded Great Lakes Divorce Financial Solutions in the first place.
After her divorce, she found herself stressed and overwhelmed about how to navigate life on her own with three kids and a new financial situation.
Helping families overcome this challenge is why we do what we do.
Whether you’ve never had to manage money before, or you’re a master at investing, we are here to support you as your financial expert before, during, and after your divorce.
What our clients love most about working with us is that we’re able to help them avoid costly financial mistakes and achieve the financial stability they need to plan for the future.
We are here to help you with that, too. Learn more about our guidance no matter where you are in the divorce process.
Then, schedule a complimentary consultation to explore how we can support you.