Dealing with Divorce Checklist

 Get organized. Take a step back and gather yourself. This is undoubtedly one of the toughest times you will go through, but the calmer and more organized you are today, the better off you will be in the end. Studies show that there are over 2 million divorced people in our country today - you too will get through it.

 Determine your net worth. Before you can make decisions regarding separation of assets, you need to have a realistic estimate of what you and your spouse are worth together and what you are worth on your own. Calculate your net worth.

Decide whether or not you need an attorney. Evaluate your case as not all cases do.

 Understand property settlement, alimony and child support. It is almost certain that you will be faced with one or more of these issues over the course of your divorce. They can get complicated, so it is important that you have a working knowledge of the basics on each.
 

Tackle your taxes. From alimony and child support to dividing valuable assets like houses and cars, divorcing couples have to consider many tax questions when working through the settlement process. If ever you need help with this part of the divorce proceedings, consult a tax attorney or accountant. They can help keep your taxes to a minimum.

 Protect your insurance policies. Having the proper insurance is key to your peace of mind and financial health. In order to safeguard that you and your children will be covered both during your divorce and afterward, it is important that you sort out your policies from your spouse's.
 

Contact social security. The process by which you collect your Social Security is affected by divorce. Depending on your situation, you may qualify for benefits based on your spouse's earnings.
 

Open accounts in your own name. If you do not already have them, opening up accounts in your own name is an important first step in establishing yourself as a separate financial entity from your spouse. Doing so helps build your personal credit history and in turn can greatly improve your financial viability going forward.

• Checking -- Basic checking accounts are designed for day-to-day transactions and bill paying, so it is important that you have one set up in your own name that you can operate out of.
  
• Credit Card -- Regardless of your marital status, you should always have a credit card in your own name.
  
• Brokerage -- Investing funds in a brokerage account is a smart way to start getting your money working for you.

This information is garnered from www.wfn.com - one of my favorite financial websites! Explore it!

$usan $peaks!   

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