Divorce Checklist: Separating the Finances and Assets

When divorce is the only option left in your marriage, there are certain steps you and your Thousand Oaks family attorney must take to prepare for the long journey ahead of you.
Thousand Oaks family attorney

The most stressful part of a divorce is separating you and your spouse’s finances and
assets. Below is a checklist of the initial steps that your attorney will advise you to take in order to ensure a successful outcome:

Savings

  1. It is imperative that you immediately freeze your joint investment accounts to prevent either spouse from withdrawing and loaning against these items.
  2. If there is a retirement account, you should request your retirement plan administrator to prepare a current statement and copy of the plan descriptions.

Liquid Funds

  1. You need to open a separate checking account, if you already do not have one. This is the first step to your financial autonomy.
  2. Your Thousand Oaks family attorney will also advise you to set aside some cash in the event that your bank accounts and credit cards are frozen during your divorce proceeding.
  3. Determine how your joint accounts will be handled.
  4. Close any joint credit card accounts you have with your spouse.

In taking these initial steps, you will be better able to separate your finances and assets upon the finalization of your divorce.

Call Us for Help

For more information about the initial steps you need to take to successfully separate your finances and assets during the dissolution of your marriage, call (888) 452-1846 to schedule a complimentary consultation with Thousand Oaks family attorney Gary Mitchell.

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