Married couples in Florida who decide to end their marriages often initially feel overwhelmed and emotional. However, it’s important to take certain steps when preparing for divorce.
Organize your paperwork
All of your financial paperwork should be organized as one of the initial steps when you’re getting a divorce. You might want to make copies of them just in case. Go through everything and note assets and property that are separately owned versus those that are jointly owned.
Check your credit reports
Obtain copies of your credit reports and thoroughly check them. You will want to see whether your credit has taken a hit due to your spouse’s irresponsible use if you share a credit card with them. If this is the case, it could affect your ability to qualify for a new card or loan.
Close joint finance accounts
Closing joint bank and credit card accounts is wise. It can prevent your spouse from draining your accounts. You can open your own savings and checking accounts afterward. Make sure you keep more money in your savings since checking accounts cannot accrue interest.
Apply for your own credit
If you don’t have your own credit card, now is the best time to open an account. It can help you start fresh and establish your own credit or improve your score if you shared a card with your spouse.
Change the passwords on social media account, streaming services and finance accounts. This is a good step to take to protect your privacy during a divorce.
Consider housing arrangements
Make housing arrangements in preparation for the divorce. If you have children, plan with them in mind. You’ll want a place that’s appropriately-sized but also fits in your budget.