The Law Offices of Ossie Brown
P 225-424-7388

Take care of your finances before filing for divorce

You may be under the impression that the only thing you need to do to divorce your spouse in Baton Rouge is to file the paperwork. As simple as it may seem, there are many more things that you should do to ensure that you get the outcome you desire. Besides negotiating with your former partner over your marital assets and child custody, you also need to separate your finances. 

To make it easier for you to adjust to life after divorce, you should take the following steps to improve your financial situation. 

Pay off joint debts 

No matter how ready you are to leave your partner, you should have a plan in place before you do. Divorces are often expensive and can drain your financial resources if you are not careful. Take time to evaluate your finances. Gather every bill and account that is in both your and your spouse's name so you can tally up the amount of joint debts you have. Use the time you have now to pay down as much of that debt as possible. Do not forget to make copies of all documents, including the ones that are just in your spouse’s name. 

Close out joint accounts 

Now that you and your partner are no longer together, there is no reason for you to have joint credit cards and bank accounts. Contact each creditor and go to each bank so you can close those accounts. If you do not close those accounts and your former partner decides to stop paying the bills, you are liable for those debts. If your ex-spouse decides to withdraw all of the money from your accounts, you could end up with a messy financial situation that may prove challenging to straighten out. Closing joint accounts and opening your own accounts can help you to avoid the potential hardships that can occur. 

No matter how easy or complicated your divorce is, your financial situation will change. You should anticipate those changes and make adjustments before the ink is dry on your divorce decree to improve your situation. If you are encountering difficulties with settling your financial affairs with your ex-partner, you should speak to an attorney to learn your options.

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The Law Offices of Ossie Brown
123 Saint Ferdinand Street
Baton Rouge, LA 70802

Phone: 225-424-7388
Fax: 225-334-7824
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