Decoupling Finances: Dividing the Money in Your Divorce

In almost every divorce case, a woman's finances are entangled with her husband's. There are joint bank and credit card accounts, family insurance policies, shared digital accounts, and more. As they start the process of divorce, women wonder exactly how they are going to decouple their finances. It feels complex and you're probably wonder how you can untangle all of it.

Start Early, Like Now
The sooner you start to separate your finances from your husband, the better off you will be as you go through a divorce. Some of the money issues take time to sort out, so if you start right away, you'll be able to move toward financial separation faster. And your post-divorce life will be less messy if you get a jumpstart on getting your finances in order now.

Checklists Are Key
Trust me, life is easier with a list and during your divorce, you will need a couple to keep things organized. In the financial part of your divorce you're probably going to want to start making lists of the assets and debts you and your husband have. You don't want to miss any of these in the divorce settlement. You also want to make a list of financial documents that you need to get.

Who Gets What
If you can sit down with your husband at the beginning of this process and have an amicable discussion about the division of assets and debts in your marriage, you are one of the lucky ones. For those who are in a contentious divorce situation, you'll want to talk with your lawyer about what you want, what you are willing to negotiate, and what you don't want. It's important that your attorney has all of this important information as soon as possible, so they know what to fight for and what to use in negotiations.

Now, what about the house? What about retirement? Are you a stay-at-home mom who put her career on hold while managing the household, caring for the children, and supporting your husband? These are important issues to think about relative to the money and the dividing of assets.

Don't worry. No matter what your divorce looks like, you can come out with a great financial settlement to put you on the road to financial security. We have inexpensive tools to help you get started getting your finances in order and start the process of dividing your intertwined money, so you can move forward and start your post-divorce life with a secure financial future.