Family & Relationships Marriage & Divorce

Divorce - Protecting Your Assets

You should begin to reduce all expenses that aren't essential as soon as possible.
Perhaps you can cancel some utilities and other bills now and that may provide you with a bit more money that you may be spending unnecessarily.
You may even be able to sell or give some personal possessions and by doing such, may have a bit more cash on hand and maybe even avoid losing them in the near future.
You should separate all bank accounts if they are held jointly.
Perhaps this is the time to divide any cash before your spouse decides it all belongs to them.
Remember to cancel all your credit cards you hold together before someone racks up all kinds of new charges and you may be the one stuck with paying them back.
Canceling the cards early will save you money you are going to need later.
If accounts are needed to continue to pay bills and debt, open a new account at a different bank altogether to take care of this.
Remember: use a different bank for this, not the same bank even at a different location.
This is no time to express your loyalty.
Now is the time to stop contributions to accounts like 401K and pensions.
You need to stop this until you find out what will happen to those accounts and who will benefit from them.
This may not be the time to quit your job.
If you are without work, try to find work and be sure to be able to provide for yourself and your family through this difficult time the best way possible.
If your spouse is not or is not going to be helping you with income, you will need to be doing something to provide for your support.
You may need to ask for help from your future ex until the court proceedings are completed.
This arrangement can be done by you or by an attorney.

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