Search Site

Money Management Tips for Divorce

There are a lot of challenges associated with the divorce process, not the least of which is figuring out how you will emerge from the process with financial stability.

Here are a few tips to help you with your money management during divorce so you can maintain financial sanity.

  • Only take advice from experts: You’ll find plenty of people will provide you with unsolicited advice about your divorce, especially with some of the financial and procedural issues. Don’t pay them any attention—instead, seek the advice of experts and your attorney.
  • Close joint accounts: As soon as is practical, close your joint credit accounts. This will prevent you from having debt racked up in your name against your will. Protect your credit by closing joint accounts.
  • Open new separate accounts: In addition to closing joint credit accounts, open new separate checking accounts that you will use moving forward from the divorce.
  • Budget, budget, budget: You’re going to need to carefully track your income and expenses and develop a thorough budget for your new financial situation. It can be difficult to go from a dual income to a single income, so make sure you know exactly what your financial situation looks like so you can make the appropriate lifestyle adjustments.
  • Update all records: When your divorce is finalized, you’ll need to update marital status on utilities, taxes, insurance and property titles, and should also update your beneficiaries on all of your accounts and insurance policies.
  • Build credit: Start building your own credit on your individual accounts. Your credit score may take a hit after your name gets taken off established credit accounts, so you should start building that history back up right away.

For more tips for solidifying your finances after divorce, contact an experienced attorney at Appelhof, Pfeifer & Hart, P.A.

Our Attorneys
Client testimonials
  • "Tori had a thorough understanding of my situation and made excellent recommendations to resolve my concerns. She was persistent on communication and handled everything in a very timely manner. I would definitely hire her again in the future if needed." - M.K.

  • "With Appelhof, Pfeifer & Hart, P.A., it is like having a family physician. They are all knowledgeable, thorough, comforting, and the only call I need to make for all my legal needs for many years to come. No matter what the matter, I totally trust their advice and commitment to me and my family." - J.N.

  • "Mary from APH Law helped me thru a difficult divorce. She and the entire staff was there for me every step of the way helping me on what to do next. They listened to what I wanted and helped me achieve what matter the most to me in the divorce settlement." - Dana C.

  • "I chose APH after my initial consultation with Mary. I felt my best interest would be represented. The entire process went excellent, the attorneys and staff communicated effectively and efficiently with me throughout the process as they needed to. Being new to the legal process and verbiage, they walked me and talked me through the next steps and the jargon, I felt completely comfortable and represented. I hope I never have to use legal services again but if I do I will call Mary at APH Law and know that I will be taken care of." - Jeff M.

  • "Divorce is a time of emotion and stress. Mary Pfeifer , My lawyer was professional and compassionate. She was very informative through the process. Her insight helped me in my decisions. She worked hard to obtain a settlement which was fair to both parties.Though, I hope I won't need her help again. It is reassuring to know a good person that is willing to help." - Rod S.

  • "I first came to Ms. Jacquelyn Lutz of Appelhof, Pfeifer and Hart in October of 2016. It was definitely the worst time in my life and she compassionately spoke with me about my options. Ms. Lutz thoroughly explained the laws, statutes, process and what to expect going forward. What was supposed to be one case, turned into three intricate cases that took a huge toll on me and my family. Ms. Lutz represented me in court on all three cases with a vast knowledge of the laws and how to proceed accordingly. During all three cases she kept me informed, calm, gave me resources to utilize, and (most important) gave me a realistic view of what may come next. Ms. Lutz knew each case required a great deal of knowledge and creative thinking on how to legally proceed forward with each case. My family and friends are forever grateful for the amazing representation by Ms. Lutz. I highly recommend Ms. Lutz for anyone needing or considering superb representation for any kind of family law. " - M.H.


Contact us

Quick Contact Form