![]() ![]() (More: Should you file for divorce first ?) Get a copy of your credit report and monitor activity This date also applies to decisions involving child support and alimony, he adds. ![]() If you don’t make the separation legally binding, then that cash could be subject to being split down the middle. So, if you’re separated from your partner for six months before divorce proceedings begin, all of that income is solely yours. Having this note on your financial files helps protect any money you make after that date. This signals the start of your new life on your own, but it serves a purpose financially, says Jeremy Straub, the CEO of Coastal Wealth. Once the decision to divorce is made, it’s time to put the separation in writing and in motion, ASAP. Here are eight ways to protect your assets during the difficult experience of going through a divorce: Legally establish the separation/divorce To add to the financial stress of divorce, some vengeful ex-spouses can wreak havoc in the courtroom, costing you even more. In addition to finding your footing as a newly single person, you’ll have to consider how bills will be paid moving forward, says Erin Wood, the vice president of wealth planning at Carson Group. MONEY TIPS FOR COUPLES: Avoid adding your own relationship into the statistic above by checking out money tips for couples here, here and here. When faced with healing a broken heart and determining the next chapter of life, thinking about how to financially protect yourself in a divorce (other money matters) can make the whole process that much more stressful. It’s not a rosy statistic - but more than 40% of marriages in the United States end in divorce. After all, it’s forever and ever, amen, right? ![]() When you’re swept away by love and filled with the promise of a life partner, the mere thought of a break up or divorce feels silly. ![]()
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