Many people are very uncomfortable making financial decisions. Others enjoy actively managing their money, especially when they have time to research and make a single decision at a time. During a divorce, though, you may need to make a number of financial decisions within a relatively short period of time. Of the four major issues of divorce—property division, alimony, child custody, and child support—three are primarily focused on money. You cannot afford to go through a divorce without gaining a solid understanding of your financial picture and being able to assess how the things in your divorce agreement will affect you financially.
The first financial decisions you will make as part of your divorce revolve around what to do within the first few weeks after you and your spouse discuss the decision to separate. This is a period during which there usually is no formal agreement specifying how you will manage your money. There are a number of risks that need to be considered, along with actions that you may need to take to reduce or eliminate these risks. For instance, will your spouse go on a spending spree on a joint credit card? Alternatively, would closing joint accounts ratchet up the level of animosity between you, thus reducing the chances of an amicable settlement?
After the initial period of separation, you will begin negotiating your divorce agreement. These articles will help you build the foundation you will need to have in place prior to making those decisions.
Sections
Collecting Your Financial Information
Assembling Your Complete Financial Picture
Finding Missing Financial Information
Documenting Separate Property
Protecting Your Finances
Documenting Your Net Worth
Budgeting for Life after Divorce
The Cost of Divorce
Making Smart Financial Decisions
Getting Extra Help
