It is a difficult choice to divorce your wife, but now that the decision is made, how do you protect yourself from losing everything in the process? Maybe you've heard stories about men losing everything, the kids, the house, money … well, it can be avoided with some intelligent decisions made at the beginning of the divorce process.
Control the Joint Accounts- Joint accounts can become almost a weapon in the process of divorce. There are many stories of men losing everything because the wife spent everything in the joint account before the divorce was over, leaving him with nothing.
You can simply tell your bank that under no circumstances can spending being done without both you and your ex's consent.
Cancel the Credit Cards- Cancel the credit accounts that you and your wife share. Just like the previous tip, you want to ensure your financial safety. You do not want to start your single life with a huge credit card debt racked up by your ex-wife before the divorce was finished.
Keep the Process as Friendly as Possible- It is in your best interest to make the entire divorce process as friendly as possible with your ex, and do not forget that! The more conflict that happens means more involvement of lawyers. This of course means more money that you need to spend. Keep it friendly and do not fight over the petty details.
Hire a Good Lawyer- Now's not the time to save money and hire a cheap lawyer. You want to make sure you are getting advice from someone who has been around the block in divorce proceedings.
Get Your Own PO Box for Mail- Now the time to separate completely from your wife, before the divorce is final. You do not want your wife to be going through your mail at this important time.
Get Financial Information in Order- Start collecting all financial information that you'll need for your divorce lawyer. This means last two years of taxes, income statements, other assets and liabilities. Having all this information in one file that you can present to your lawyer will help you save some time, which saves you money in legal fees.
Learn All You Can Before Talking To a Lawyer- Obviously lawyers cost money. Every small question you have for them, they are obliged to answer … they are paid by the hour after all! You owe it to yourself to read up on the dispute process and what you need to do to prepare. This tip alone will save you a lot of money.