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Home » Some Financial Do’s and Don’ts when Divorcing

Jul 25, 2011

Some Financial Do’s and Don’ts when Divorcing

Divorce Survival

Some Financial Do’s and Don’ts when Divorcing:

 

  • Do prepare a budget and financial plan to sustain you until your divorce is final.
  • Do review monthly bank and financial statements and make copies for your attorney
  • Do review all tax return that have been filed jointly or separately by your spouse.
  • Do make sure all taxes have been paid to date
  • Do review the contents of any safe-deposit boxe

 

  • Don’t make large purchases or create additional debts that might later cause financial hardship
  • Don’t quit your job
  • Don’t move out of the house before consulting with your attorney
  • Don’t transfer or give away assets that are owned jointly
  • Don’t sign a blank financial statement or any other document without reviewing it with your attorney

 

Going through a divorce is an emotional time for most people and many unfortunately make hasty and sometime irrational financial choices at this time.   Seek the support and guidance from a qualified professional such as your attorney or financial planner before making any decisions.