Saturday, February 18, 2017

4 Tips to Help Protect Your Finances During a Divorce in NH

Nashua Divorce Attorney NH
One of the biggest obstacles to overcome during a divorce is finances. Money can be a big issue of contention when it comes to finalizing a divorce in New Hampshire, so it is important to know what to do if you are faced with filing for divorce. Your finances should be protected so you are ready to start a new life once the divorce has been finalized. Below are a few tips to follow to ensure that your financial situation is secure.
Gather and Copy Financial Documents

To begin, you need to gather all financial information that applies to you and your spouse for the past few years. It is recommended to cover as much as five years to ensure that documentation is in place for financial issues that could arise. Bank statements, property records, investments and payroll stubs are just a few of the documents that need to be gathered and copied. Keep the paperwork in a secure place such as a safe deposit box and not in the home.

Create Individual Accounts

In most marriages, the couple has joint bank accounts or credit cards. When getting a divorce, the accounts need to be separated. You will need to have a bank account with just your name so you can begin to place paychecks and prepare for life after the divorce. Close any joint credit card accounts as well so you will not be responsible for any charges that you did not approve.

Credit Score

Your credit score is very important and something that should be watched during a divorce. Your credit score can be affected by closing credit card accounts or creating new accounts on your own. Take time to review your credit score during your divorce as well as after. You want to ensure that your credit rating stays in good standing so that you do not have issues with your credit in your future. When there is contention in the marriage, it is important to keep track of your score in case your soon-to-be ex makes charges in your name. This is something that does occur and an issue that your attorney can assist you with.

Consult with an Experienced Attorney

To ensure that you make the right decisions financially during your divorce proceedings, it is recommended that you consult with an attorney. An experienced New Hampshire divorce attorney will understand the law and can provide advice on what you need to do in terms of financial decisions. Attorneys know what not to do and how to make changes to your financial situation that will be appropriate for your divorce proceedings as well as in the future.

Consult with an attorney to have your individual case heard so the right decisions can be made for your future. Provide paperwork and describe your situation to the attorney to get advice on the steps you need to take to begin your divorce as well as make decisions in regards to handling finances. By working with an attorney, no mistakes will be made and you can begin your new life on the right track.

By Joseph Annutto