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Top Ten Financial Tips for Women Divorcing in 2013

Forbes Magazine recently posted an article suggesting the "Five Best Financial Tips for Women Divorcing in 2013" We thought we would expand the list to ten. Most are activites to do BEFORE a divorce is filed. 

 

1.  Gather financial documents, such as tax returns, end of year statements from banks and brokerage houses.  End of year credit card statments may have a whole year of transactions.  Having good information before a divorce commences can make it go easier. 

 

2.  Assess your credit.  Get a copy of your credit report, and take steps to protect your credit.  The filing of a divorce may prevent you from taking some steps in this area.

 

3.  Open bank account and credit cards in your own name.  That way you have funds that are not accessible to your spouse, and a credit card he can't cut off.

 

4.  Begin to assemble a professional divorce team.  Hopefully, you will have something in your estate othe than tupperware and credit card debt.  Consulting with a divorce attorney, and perhaps others if there are assets or other issues that beg for analysis by experts, is a real good idea.

 

5.  Be watchful.  If you're think about a divorce, your spouse may be also.  And may already be on a missionto hide assets or income.  Look at the documents that come intoyour view, look at computer screens, and generally assess whether the flow of information has become restricted, or you hear cries how how "business is terrible."  The anecdoctal information you gather can help your divorce team immensely when the time comes.

 

6.  Keep track of and document significant events.  Your notes to yourself can later help construct a timeline that helps you and your team figure out what has been happening.

 

7.  Remember that you are married until the divorce decree is signed by the Judge.  There is no common law divorce, where you can feel free to take up a new relationship.

 

8. Get needed medical and dental work done while you still have coverage while you're married.

 

9.  Have a safe place to keep your documents that are outside the easy access of your spouse.  It doesn't do you any good to collect helpful if not critical documents if they suddenly disappear.

 

10.  Protect yourself--physically-- and your confidential information.  Don't allow yourself to be initmindated or worse.  911 is there for a reason.  Change your passwords that allow access to your computers, cell phone, social media, email, and finanacial sites.  Don't use passwords your spouse can  maybe figure out. Have your home and vehicle swept for bugs--and not the six legged kind.

 

The articles on the website explain in much detail what esle to expect in a Plano,  Ft.Worth, Denton or Rockwall divorce.

 

Most women find that a consultation with one of our Dallas Divorce Attorneys helps guide them through the pre-divorce-planning and information gathering stage of their life.  The Forbes article is here.

Filed under Family LawTags baby boomers, Dallas divorce attorney, Dallas divorce firm, divorce in the news, gray divorce, Ken Raggio, money problems, older Dallas divorce, retirement savings, Technology and Family Law
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