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Sometimes in life we get blindsided by other people’s actions but there are some occasions that we may have a heads-up that changes are going to happen. If you have an inkling that a separation from your spouse might be around the corner, then this list will help you prepare for the fall-out. Especially if you are the spouse that has not been accustomed to handling the bills and banking information. Don't feel guilty about taking these measures if you must. If you are dealing with an abusive spouse, you will want to contact your local police station to get referral numbers for victim services. Do not take action without having the advice of a person trained in this field.
1. Knowledge is empowering. Know the location of all or as much of the following as you can quietly find. Important documents and billing/invoicing information, where you and your husband have bank accounts and passwords, life insurance policies and policy numbers, mutual funds, certificates of deposit, all other financial information, mortgage information, deeds as well as social security cards/social insurance cards, passports, birth and stock certificates, investment paperwork, and the details of his pension, 401 (k), and other employee benefits. Know the location of and have access to safe deposit boxes. (If your marriage is just short of the ten-year mark, you may want to wait it out, if you can and if it's safe. You'll have more bargaining power in matters such as alimony, social security, pension benefits, and more. This is because in some countries the courts tend to view marriages lasting at least ten years or more as longer term. Therefore, you may be eligible for a portion of your husband's pension and social security benefits (when you reach the age to claim these), and you may qualify for alimony. It's all good reason to speak with your attorney before moving out, or asking him to.)
3. Put your family heirlooms and sentimental items in safe-keeping. Get an appraiser to give you a value on artwork, antiques, and other collectibles. Take any sentimental or important objects to a friend's house for safekeeping. Be certain that your name is recorded on the house deed or apartment lease. Do not store any cash in a safe deposit box. Boxes are sometimes sealed during a litigation process. Revoke any powers of attorney your spouse may have and ask brokerage or lending institutions to check for identification before your name is signed to anything.
4. Open an emergency bank account in your name. It only takes one/half of the partnership to empty an account, and you don't want to be left without any money to live off of. Do not deposit any more of your own money into a joint account, even if you transfer that into your own name. Establish a new account for future deposits at another bank. Keep an emergency fund to live on and pay legal bills while support payments are being established. Your spouse may petition to have all joint accounts frozen pending equitable distribution in a divorce settlement. One more important reason to have access to your own funds.
5. Establish your individual credit rating. Immediately cancel or report missing jointly held credit cards at time of separation. Set up new accounts in your name only.
6. Pay as many bills as possible as soon as you can. Prior to separation pay off all the ebt that you can so that you are stuck with as few financial obligations as possible. Cut-down the risk having your utilities shut off or dealing with credit management companies that threaten to tarnish your credit rating.
7. Take care of household or car repairs. If you've been putting off an upgrade to your house such as air conditioning, paving a driveway, or making a deck or patio; use this time to get some of these items done. If you are fairly certain you will maintain and live in the residence at settlement it is particularly important to do so. If you are currently driving an old vehicle and can afford to upgrade your car, it is important to do this now. You will need transportation, and as long as the car is of a modest type and price, the courts usually will not find fault for the purchase of a new (or slightly used) car. Keep in mind as you make your decision that if there’s a manufacturer's warranty, you'll save money in years to come.
8. Look after your health-care needs. Book in your regular visits. See your doctor for a routine checkup, annual OB/GYN exam, vision testing, or dental cleaning and x-rays. You may have coverage from your spouses’ benefits for a while after separation but you might be responsible for the cost of any procedures that aren't fully covered. Any dental work or new glasses, contact lenses should be ordered now if they are currently covered on your health plan.
9. Put a little bit of money into a better work wardrobe. Just purchase some versatile basics that you might need for your career. If you are currently a stay at home spouse, job interviews could be in your future. Put some money in separates that can mix and match with versatile shoes in preparation for the likely possibility that you’ll be looking for employment.
10. Stock up on some groceries. If money get tight and you are dealing with a spouse who is being unreasonable, you won't need to spend as much on groceries if you've stocked the pantry and filled the freezer. It will give you some breathing space on a financial level and you will be able to cope better with other things if you don’t have to worry about the basic needs of yourself and your children.
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