Divorce Spring Cleaning

April 29, 2015

Spring is finally here! It is the time of year where we scrub behind the refrigerator and delete some unneeded files from our hard drive; it is time for spring cleaning. And if you are considering filing for divorce this year, you may want to put some of the springtime energy into getting yourself organized financially.

We have come up with six steps to help you get in excellent shape for beginning your divorce process:

  1. Get your financial documents in order. As part of your divorce preparation you need to gather and secure copies of all financial documents.

  2. Check into your credit. You can view your credit report for free at www.annualcreditreport.com

  3. Get bank and credit card accounts in your own name. Consider using a different bank than where you currently have joint accounts and open up both savings and checking accounts in your name alone.

  4. Know your tax situation. Divorce could mean significant change in your income structure.

  5. Put together your professional divorce team. Start with a Family Law Attorney, a Certified Divorce Financial Analyst and a therapist/counselor.

  6. Adjust your mindset and put a budget together: Think financially about your situation, not emotionally. To get a copy of our budget worksheet, please email Katherine@prosperwell.com.

We now have two CDFA’s in our office, to schedule a time to meet with one of them for your free initial consultation, please contact us at 763-213-9510.

This information is not intended to be a substitute for specific individualized legal advice. We suggest that you discuss your specific situation with a qualified legal advisor.

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