Marriage and Divorce

Michael Lodge

by Michael Lodge

I wrote yesterday on Pre-Marriage counseling, sitting down with your accountant and pre-checking your financial condition of both parties before marriage, which needs to be done by everyone.

Now we are talking about what needs to be done when getting a divorce.  If you think you are going to get a divorce make the financial impact less by knowing what is going on. Let’s go through the checklist.

  1. Run a credit report, see if one who is creating debt.  Who is over spending.
  2. Make an inventory of all physical and financial assets
  3. Get an appraisal on assets of value
  4. Look at all bank and financial statements
  5. Create your own bank accounts
  6. Create a pre – post divorce budget
  7. Sit down with your accountant and put together your tax issues when going through a divorce.

These are seven good items to remember.  Don’t be shocked when the divorce comes, make sure you know what the financial impact is going to be.

If you need help contact our office at:  877.778.1770