Burns Law Group, PC
View Our Practice Areas

If divorce is a possibility, protect your financial security

If you are considering divorce or you believe that your spouse may be, it's never too early to begin getting your financial house in order. Failing to do so can cost you dearly during and after a divorce. Even if you and your spouse end up staying together, everyone can benefit from taking some steps to be more knowledgeable about your financial situation and help ensure your financial security with or without a spouse.

Know how to access your financial documents. Many of these, such as tax returns, bank and investment statements are available online now. However, it's always a good idea to have back-up paper copies. Make sure you have copies of loan documents, insurance policies and vehicle and property titles. Your attorney will likely ask for more documents, but this is a good start.

Speaking of financial documents, make sure that you know what accounts, credit cards and loans your name is on, and track their activity. Spouses have been known to wipe out checking accounts and run up credit cards in the weeks and months before leaving. If you don't have any accounts or credit cards in your own name, it's wise to open at least one of each that you can access and your spouse can't.

Check your credit rating. It's important to do this before, during and after a divorce. Many people have no idea what their credit score is. Thanks to joint accounts, your spouse could have trashed it without you realizing it. You'll need good credit more than ever if you become single again and need to rent an apartment or buy a car. Continue to monitor it throughout the divorce so that you can be better alerted to any financial mischief your spouse may be up to.

It's always wise to start looking at Georgia family law attorneys sooner rather than later. Choosing an experienced attorney with whom you feel comfortable is an important decision. It's best if it's made when you're thinking relatively clearly and not after your spouse has thrown your belongings out on the lawn or you've made the emotionally-wrenching decision to leave.

Source: Business in Savannah, "Hubbard: Avoid common mistakes before divorce," Sam Hubbard, May 19, 2017

No Comments

Leave a comment
Comment Information

How Can We Help You?

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

181 E. Main Street
Canton, GA 30114

Phone: 770-628-1131
Fax: 770-956-1404
Map & Directions

Burns Law Group