How to Protect Yourself Financially During Divorce

Divorce can be financially devastating if you are not prepared. Taking the right steps early can protect your financial future and reduce stress during an already difficult time.  

Gather Financial Documentation Now  

Before or immediately after filing for divorce, gather copies of all financial documents: tax returns, bank statements, retirement account statements, investment accounts, property deeds, vehicle titles, and any debt records. These documents are essential for an equitable division of assets.  

Open Individual Accounts  

If you do not already have bank and credit accounts in your name only, open them now. You will need access to funds for living expenses and legal fees. Avoid draining joint accounts, as courts may view this negatively.  

Understand Marital vs. Separate Property  

In Georgia, marital property assets and debts acquired during the marriage — is subject to equitable division. Separate property (owned before marriage or received as a gift or inheritance) generally is not divided. Understanding this distinction is crucial.  

Do Not Make Major Financial Moves Without Counsel  

Do not sell assets, transfer property, run up debt, or make major purchases without first consulting your attorney. Courts look unfavorably on financial misconduct during divorce proceedings, and it can affect the final outcome.