If you are getting a divorce, you are probably aware that a main point of contention will be finances. It is not uncommon for accounts to be emptied or debts to be run up on joint accounts by one spouse. To safeguard yourself against financial ruin, there are some things that you can do.
According to Dummies, you should take steps before you file for divorce to best protect yourself. If you have any joint accounts, including credit cards, you should close those accounts or at least write a letter to the creditor stating you will not be responsible for charges made after the date you will file for divorce.
If you have a joint bank account, you need to remove your portion of the money and put it in an account in your name only. Keep in mind courts will usually split money 50/50 in a divorce, so it is recommended to take only half of what is in a joint bank account. Taking more could actually hurt you during the property division portion of your divorce, reducing what you get in the long term.
It is also important to consider other property and assets. If you feel there is any danger of hostility where your spouse may damage property or assets, then you can take steps to safeguard them. For example, move items somewhere he or she will not be able to access them, such as a storage unit or family member’s home. This is general information only and is not intended to provide legal advice.
