Separating Financial Assets When Going Through a Divorce or Separation

One of the questions I most frequently get asked when clients are going through a separation is: 'How do I manage my money?'. It can actually by answered by breaking it into 3 simple steps.

  1. Take a snapshot of your financial profile - record how much is in each account, any savings, credit cards and retirement accounts.
  2. Split the liquid assets in half and keep one half (the half for your former partner) in a safe place, such as a new account or savings account.
  3. Try and avoid making any major purchases - such as new cards or down payments - or dipping into the other half until a separation agreement has been worked out.

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Do you have more specific questions or would like to talk about your individual story? I would love to hear it to set up a free consultation.