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4 ways you can protect your finances in a divorce

If things have not been going well in your marriage lately, you might be considering divorce. However, you might be worried about what comes after, where you will live and how you will support yourself. If your husband has been the main breadwinner, your future financial situation might be your biggest concern. This is actually a common fear of many women who face the possibility of divorce.

Fortunately, there are several things you can do to financially prepare for divorce. The following tips will help you protect your financial future.

Open a separate account

If you do not already have one, now is the time to open a separate bank account. You will need this separate account in order to put away money to fund your divorce and to start your new life. This will also protect the money you set aside in case your future ex-husband decides to finally buy that boat he always talked about or does something else to drain the account.

Separate

One of the first things you should do is to legally separate. This will establish the date when you start acquiring separate property. For example, any money you earn might be separate in the eyes of the court and not subject to division according to marital property laws as of the date of your legal separation.

Build your credit

Building a financial identity separate from your soon-to-be ex-husband's is very important for your future. In order to do this, you will need to establish your own credit. This means, if you do not already have a credit card in only your name, it is time to apply for one. You will need a credit history in order to make large purchases, such as a car or house, after finalizing your divorce.

Keep a low profile

During the divorce process, it is extremely important to keep a low profile. In other words, refrain from dating, going out with your friends too much and engaging in any other behaviors that the family court judge might hold against you. Also, keep your social media use to a minimum and do not post anything that could potentially cast you in a negative light.

If you are considering divorce, it is important to take steps to protect your financial future. The above tips can help you start over.

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