Divorce is a difficult emotional process for the two parties involved. However, there’s also another thing that will be affected in this process — your finances. That’s why you need to have a clear mind when dealing with the legal proceedings in a divorce. Here are some things you should think of to protect your finances.
Getting a Lawyer
It’s important to have a lawyer by your side throughout this difficult time. They have the knowledge and expertise to guide you in the right direction when you don’t know what to do. Some divorce lawyers in Albuquerque offer initial consultations for free, so take advantage of that so you can evaluate all your choices.
If you have joint bank accounts, then you should go to your bank as soon as possible and divide these accounts in two and deposit one-half in your name. You can actually deposit all the amount to your name, but this will reflect badly on you in court. Once you transfer the amount, you should inform your ex-spouse as a courtesy.
It’s better to keep your important documents safe and away from your ex-spouse. One of the initial reactions your spouse may have is to go through your cabinets, desk, phone records, or briefcase. Put them on your friend’s house or lawyer’s office instead. This way, your spouse can’t get any information that can be used against you.
You should freeze all your credit cards at once because you don’t want to discover thousands of dollars charged when you wake up. Your ex-spouse can easily use your credit card to splurge just to get revenge. This includes joint credit cards and loan accounts.
These are just some of the things you need to settle so you can protect your finances during a divorce. This way, you won’t get caught off guard with missing money or unpaid debt.