Preparing Your Finances For A Divorce

There are many ways to prepare for a divorce, but perhaps the most important is preparing your finances. Divorces are expensive and you must budget and spend your money wisely during this time to avoid unnecessary debt. Follow these tips that are crucial to preparing your finances for a divorce. 

Cut your expenses

As soon as you and your significant other decide a divorce is right for your marriage, you should take steps to cut your expenses as a family. Doing so is crucial in order to afford the expenses a divorce can bring. Sit down with each other and talk about what financial areas you can cut back on. 

Save money with a DIY divorce attorney

Divorces can be pricey so you need to know the secrets to saving money during this time. One great way to save money is by using a DIY divorce attorney such as Divorce Pro. A Pro Se divorce will allow you to represent yourself and lower your costs of a lawyer.

Open individual bank accounts

Opening individual savings and checking accounts will help you to collect some money before the divorce becomes final. It will also ensure that your money is only being spent by YOU. You will also want to open your own credit card under your name only. Strengthening your credit before the divorce is never a bad idea.

Gather documentation

Your financial records are perhaps the most important part of a divorce. Gathering these can be time-consuming, as you’ll need records from the past few years, so you need to start doing this as soon as possible. Some documents you’ll want to get your hands on include income tax returns, checking and savings account statements, retirement account statements, credit card statements, investment account statements, and pay stubs.

If you’re ready to go through with a divorce, Divorce Pro Wisconsin wants to provide you with affordable assistance. We offer no billable hours, no retainers, and no long-term commitment! Contact us at (866) 535-3776 to schedule a FREE case evaluation!