Protect Your Finances During A Divorce

No one goes into their marriage thinking the end result will be divorce. Unfortunately, however, divorce seems to be a common happening in many Americans’ lives. Take steps to protect your finances through it all, especially your divorce.

Divorce With Financial Care

There are many things out of your control when it comes to going through a divorce. As a result, it’s important to control what you can in terms of your financial health, particularly in setting yourself up for life after divorce.

For starters, your money. During your divorce, you’ll be unable to move your financial assets until a judge decides who gets what. However, you can go ahead and review what you do have in your accounts. Review current and past statements, as well as take inventory of safe deposit boxes to ensure nothing is being overlooked or taken without authority.

If you’re a stay-at-home parent and haven’t had a job outside the home, now’s the time to start looking for one. Don’t wait to start searching for a job until after your divorce is over. Start building your career today!

In addition, review what the financial settlement could mean for your taxes this upcoming tax season. Depending on what’s decided and complete, a penalty could be owed due to the divorce agreement since some items will be tax-free while others are taxable.

Whether you’re looking to open a new checking or savings account—or both!—our knowledgeable and experienced team is here to help! Visit our website or stop by one of our branches today for more information.