Financial Steps to Take When Getting a Divorce

Written by: Maryalene LaPonsie; Article posted on: money.us.news.com

Divorce is usually a highly emotional life event, and for that reason, financial experts say it’s important to have trusted advisors by your side. Gretchen Cliburn, senior managing advisor at BKD Wealth Advisors in Springfield, Missouri, says everyone going through a divorce should work with the following people.
  • Divorce attorney
  • Certified divorce financial analyst
  • Mental health counselor
As soon as you know you’re getting a divorce, collect all the financial documents you can. These include the following:
  • Bank statements
  • Credit card statements
  • Tax returns
  • Retirement account balances
  • Appraisals for valuable items, if available
Pull a copy of your credit report. Spouses should look for loans or accounts they don’t recognize and work with an attorney to ensure they aren’t responsible for any debt incurred without their knowledge.

How a Simple Divorce Checklist Can Keep You From Making These 10 Common Mistakes

Written by: Karen Covy; Article provided by: huffingtonpost.com

Here are 3 common mistakes that you can avoid by having a simple divorce checklist:
  1. Having to Be Responsible for Debts You Forgot About (or Didn’t Know Existed) — There is nothing worse than finding out months (or years) after your divorce is over that you have a credit card bill in your name that was never dealt with in your divorce. 
  2. Having Your Spouse Read Your Personal Mail — While your spouse has a right to open mail directed jointly to the two of you, as you separate you are going to start getting mail (for example, letters from your attorney) that you won’t want your spouse to read. 
  3. Having Your Spouse Cyber-Spy On You — In the flurry of changing everything in your life when you divorce, it is easy to forget that your spouse probably knows (or can figure out) the passwords to all of your email, social media and other online accounts.