Money Moves To Make When You Face Divorce

Excellent post by “The Consumerist”

When you live with someone and share financial obligations, the end of the relationship hits your wallet as much as it does your heart. Splitting up forces you to take an inventory of false assumptions and trust issues you and your ex had with money as well as everything else.

A post at Dinks Finance offers these ways to cope with the financial side of going your separate ways:

* Get your own bank account. This is especially important for those who don’t work or make significantly less than their spouses. It’s fine to keep a joint account for shared expenses for the short term, but you’ll need a separate account so you’ll be able to get a hold of funds when you need them.

* Get agreements in writing. You’re going to bicker about finances, so you may as well refuse to do so verbally, forcing the two of you to settle your differences in writing. If you document your agreements and arguments via text message and email, there will be fewer grey areas when it comes time for you and your lawyers to crunch numbers.

* Remove emotion from the equation. Despite your hot and cold feelings for your adversary, you need to stay clinical and professional, treating your relationship as you would a business operation. Unless you yell a lot and bring up lingering resentments during business negotiations, in which case you’re probably just best off saying as little as possible.