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Money Tips When Going Through A Divorce

by | Jan 23, 2018 | Family & Divorce | 0 comments

If you’re going through a break up then you may be in need of the best divorce solicitors Epsom has to offer to guide you through the process. Things can quickly get complicated, especially when children are involved, but one of the biggest concerns many couples have is to do with money. We can help you take care of the major issues, but these tips from the Huffington Post will give you something extra to consider.

Create a complete list of absolutely everything that you own together, no matter what the cost of each thing. Then between you, you can quickly and accurately divide what there is between the two of you. It may be that you split it by financial value, or it could be based more on sentimental value.

Divide all your money and carefully work out how you want to split it. This could be various joint bank accounts and savings accounts. All household bills should be changed to a single name and equally given so that it for that person to arrange and organise. If you have debts these can be slightly more difficult. By law a debt is only the responsibility of the person who name it is even, even if this is a joint debt. Seeking professional advice of how to deal with scenarios like this is advised.

Going through a divorce is a stressful time of course, but you can’t forget your everyday financial commitments such as bills and mortgages. Make sure you don’t ignore letters and keep paying bills, and try to make an agreement with your partner on how to proceed. You don’t want to make your financial situation more difficult.