Three things you can do to protect your money during a divorce
There will be life after a divorce, so taking a few steps to protect your money during a divorce is important. First, it is important that a person’s credit score is not affected by the divorce. A person’s credit needs to be good so that they can open a credit card in their own name, get housing and help with other things after the divorce is finalized. Second, a person should open a bank account in their own name and start adding to it immediately. Third, consult with a financial planner and attorney to make sure the financial decisions that are being made will protect a person’s future. There are many different financial decisions that can have a lasting impact on a person’s future, including retirement accounts, tuition, debts, etc.
No one ever expects their marriage will end in divorce, but unfortunately this happens to many Houston couples each year. Finances can take a big hit during a divorce, so careful planning is very important. A legal professional who is skilled in family law can ensure their client’s needs are met both during the divorce and for the years to follow.
A divorce is one of the most traumatic times of a person’s life. Making sure finances are protected and that a person emerges from a divorce with both feet on the ground is important.
Source: time.com, “3 steps to protect your money before a divorce,” Kate Santichen, Oct. 28, 2016