Top Six Smart Divorce Tips

By: Toby King


The divorce process can be messy and it can easily exhaust both parties not just emotionally, but financially as well. It also affects not just the couple, but other people related to them, particularly the children if there are any. Nobody decides to get married and at the same time expect to get divorced later on. However, things happen, and when they happen, you have to prepared. Divorce can be costly, but the good news is that there are smart moves you can take to sidestep many of the problems that come with it.

Keep Copies of Your Records

It would be more difficult and more expensive to obtain copies of records once the divorce process has begun. For this reason, see to it that you make copies of your financial records - business, bank, life insurance, credit cards, and the like - and store them in a safe place, and as much as possible, away from your spouse. Information from these records would definitely come in handy later on so make sure you prioritize copying them even before the divorce process begins.

Consider Marital Debt

Creditors do not recognize divorce court orders, so whatever debt you have obtained as a couple remains your responsibility. If the other party refuses to pay his or her part, the remaining party will be responsible for the amount. A smart practice would be to make sure the debt is fully paid before the divorce process begins. Another approach would be to decide among yourselves who is responsible for the debt.

Cut Joint Credit and Debit Cards

Your divorce settlement may make your ex-partner responsible for debt that was incurred while you were still together. If your ex fails to pay on time, it will have a negative effect on your own credit. For this reason, monitor the account regularly to make sure your ex makes timely payments. If ever possible, you would want to revoke your ex-spouse's authority on your accounts, but make sure you inform your ex. This is also one of the reasons that you should both secure individual credits while you're still married.

Divide Marital Possessions on Your Own

The judge would appreciate it if you would settle minor issues such as dividing marital possessions on your own instead of taking the matter to court. To avoid confusion later one, see to it that you are specific in your agreement as to who gets what by making a list of the items and who gets them.

Review Personal Beneficiary Information

Some of your accounts may not be directly affected by your divorce, but it would be ideal to review them to make sure the beneficiary information is updated. Whether it's your 401(k) plan, life insurance policy, or individual retirement plan, don't forget to review the beneficiary information right after the divorce.

Ensure Steady Flow of Income

This especially applies if you are a woman. If you are getting spousal or child support, for instance, see to it that you own a life insurance policy on your ex-spouse. See to it that there is disability insurance as well. Such policies will help ensure that you will still receive a steady flow of income should something happen to your ex.

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Another smart divorce move you should make is hire an reputable divorce lawyer. The divorce process can be very challenging and it would really help to have an expert assist and help you with your legal needs. Go to this site if you are in search for divorce lawyers with excellent reputation.

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