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Important steps to take before a divorce

On Behalf of | Jun 1, 2022 | Blog, Divorce |

Divorce can often difficult. If you are planning to end your Texas marriage, it’s important to take certain steps to prepare for the process.

Gather all your financial papers

All financial paperwork should be gathered in preparation for your divorce. You will want to make sure you have a good idea of your income, debts, regular bills and expenses. Knowing your new budget post-divorce is also important so that you’ll be able to get by financially.

Update your beneficiaries

If you have a retirement account, a life insurance policy and an estate plan, it’s a good time to update your beneficiaries on all of those documents. Before your divorce is final, you will likely want to remove your spouse’s name from these documents.

Change passwords on accounts

Does your spouse have access to your social media and online financial accounts? If your answer is yes, it’s important to quickly change the passwords on them. You don’t want them snooping through your information, using anything against you or gaining access to your funds.

Close joint credit accounts and start anew

Before you file for divorce, close any joint credit card accounts you share with your spouse. It’s a mistake to neglect this step. If your spouse is irresponsible with money or is the type who would rack up debt out of spite, this should be one of your first priorities.

Open a credit card account in your own name afterward. Be responsible when using your card and always pay your bills in full and on time.

Stay in the marital home

Don’t immediately move out just because you’re planning to divorce. It might affect your things involving your children and matters involving the home and mortgage.

Be smart and take these steps before your divorce begins.