If you are in the midst of getting a divorce, then you will want to carefully disentangle all of your financial accounts from your spouse. This is because joint financial assets can become complicated during divorce, and if your spouse racks up debt on a joint account you may be held responsible. The best option in a divorce is to close out all joint accounts and reopen accounts in your name alone. Therefore, you can manage your own finances without worrying that your spouse is overspending or damaging your credit due to a joint account. An attorney can help you to take care of these financial precautions.
When it comes time to divorce, you will need to divide your marital property. Unfortunately, marital property includes all debts acquired during marriage, as well as all property. You will want a trusted divorce attorney on your side if you hope to make sure that you avoid all financial difficulties. A lawyer at our firm will advocate for you during the divorce process and help you to get the assistance that you need in your case.
We also suggest that you get financial coaching if your spouse used to manage the finances. Now that you are separated, you will be required to handle finances on your own. You will want to learn how to carefully balance your checkbook and pay bills on time. Also, monitor your credit. If your former spouse has all of your information, he or she may try to open accounts in your name. This could be potentially damaging, so we suggest that you watch your credit closely to make sure that this is not happening to you.