Finances After Separation

If you’ve decided to divorce or if you’ve already separated from your spouse, it’s time to take a hard look at your finances. You want to be both smart and proactive about it because if you ignore money, you could make some costly financial mistakes. Now, let’s do what’s right and avoid that! Each couple has a unique set of financial circumstances and considerations; no two are identical. In this article, we are going to examine the topic of finances after separation and begin the process of planning for your post-divorce financial future. The first priority is to know how much you have and what you owe so you can accurately assess your financial situation. We’re talking about calculating your marital assets and the totality of your debts. Determining Assets How much cash do you have total in all bank accounts combined? How much do you and your spouse have in retirement dollars (401ks, IRAs)? What is your house worth? …

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