If you and your spouse share accounts, the financial institutions aren’t required to keep your requests for records confidential. Finding and collecting documentation like bank statements, credit card records, mortgage documents, and other financial documents can be a long, tedious process, so you should start gathering those documents as soon as possible after deciding to divorce. They also let you see where your money goes. Collect Documentation Regarding Accountsįinancial records paint a picture of how financially stable your marriage was. Children grow up, cars break down, you could get a promotion at work, or any number of other things could happen without warning. Don’t forget that your circumstances can change. Also, have estimates for one-time costs like purchasing a new dryer or paying a deposit on a new living space. They can also help you estimate what your future expenses could be.ĭon’t forget to include annual expenses such as holiday travel or property taxes. Current statements can help you estimate how you’ve spent your money in previous months and years. Your credit card and bank statements can help you compile this information. You should include all household bills, food, clothing, home maintenance, transportation, entertainment, childcare, and anything else that gets part of your money. You will already have a record that could go back years. If you’ve already been keeping a good budget that includes this information, you’re ahead of the game. It will also provide valuable information for your attorney and the judge regarding assets, debts, and how you currently handle childcare and other expenses. One benefit is having this knowledge will help you complete a budget when the divorce is final.
Once it becomes clear that a divorce is happening, keep records of your household income and expenses (if you haven’t already).
Keep Track of Your Expenses and Prepare for New Ones They can tell you whether you should make changes like moving money or opening new accounts. However, their experience won’t be exactly like yours, even if they’ve been through a divorce.īefore you make any financial decisions, consult a financial adviser and a Washington divorce Attorney who is licensed to practice in your state.
#Unmarried couples finances forum how to
Friends, relatives, social media, physical media, and other online forums often advise how to handle your divorce. For that reason, it’s best to avoid advice that offers a one-size-fits-all solution to issues. Beware of Well-Meaning, Non-Professional Advice in Washingtonĭivorce laws are different in each state. Here are some tips to help you prepare yourself financially before your Washington divorce. If you take care, there are ways to protect your economic life before a Washington divorce. Whether you were in a one-income or a two-income household before the divorce, you will find that you face new financial challenges you may or may not expect.
Your divorce is a dissolution of what those personalities sometimes created over many years.ĭivorce is not an inexpensive undertaking. Your marriage was a unique blending of two personalities. Divorce affects virtually everything in your life, from your emotions to your finances.Įvery divorce is unique. No matter how prepared you think you are for a divorce, hidden issues almost always rear their heads. It’s no secret Washington divorce is hard.
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