Dr. Judith Gerhart, CFP
Certified Divorce Financial Analyst 
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Protect Yourself
November 29, 2008
Men tend to know more about financial matters, so it’s important for women to educate themselves about finances. In any marriage, both parties should understand their tax returns and investments, and stay informed of their debts, investments, and family income.
Once it’s clear that a divorce is in the making, cancel any joint bank accounts and open individual accounts. Cancel all credit cards and get new ones in your own name. Close all unused credit accounts, and notify your creditors of your change in marital status.
When your divorce is final and assets have been legally divided, change names on house deeds, stocks and bonds, and car titles, as necessary. Change beneficiaries on investments, retirement plans, life insurance policies, and savings accounts. Update your will. Check your credit report to make sure your spouse hasn’t incurred debts in your name since your divorce or separation.
Divorce can be devastating financially to one or both parties, but educating yourself and taking a few precautions can reduce the impact on you and your children.
By: Jeremy Vohwinkle
Posted by Judith Gerhart on November 29, 2008 | Permalink | Post a comment
Topics: Divorce, Finance, Tips |
