5 Things You Should Do Before Filing for Divorce

The first step you should take is learning about where you stand financially. Begin by checking your credit report. Look for any irregularities, such as discrepancies and missed or late payments. If you notice any accounts that were opened without your consent, contact the credit bureau to have these mistakes corrected.

The next step is to make a list of all your assets – both personal and marital. This includes any money in your bank account, property, retirement plans and investments. Even though the task of dividing assets won't occur until the later stages of your divorce, knowing where you stand, and what you want to fight for, will allow you to speed up this process.

If you've always placed your money in a joint bank account, or share several credit cards, it's time to begin securing your financial future by opening a bank account and credit cards under your name. As you begin the process of divorcing, you and your spouse will begin to live separate lives, both personally and financially.

Unfortunately, it's not uncommon for one spouse to react badly after they are served with divorce papers. If they lash out by draining your bank account and maxing out your credit card, then you could face financial ruin. Having your own bank account and credit cards can protect you from your spouse's reaction to the divorce.

The best-case scenario in a divorce case is that it will be quick and uncomplicated. Unfortunately, even a neat and tidy divorce can still cost several thousands of dollars. Instead of borrowing money from friends and family, dipping into your savings or running up your credit cards, begin putting aside money every week to save for your future.

For example, try to set aside 10 percent of your weekly or biweekly paycheck. Downgrade your cable, get a cheaper cellphone plan or make any other small changes that will allow you to save money. Once your divorce is over, and you haven't taken on any new debt, you can begin to rebuild your life without the financial burden.

This seemingly simple question about who gets the house, and who will leave, is more complicated than you might realize. For example, if you pack up and leave the house, and do not have a custody agreement in place, the judge might see this action as you disregarding the welfare of your children.

It is important to sit down with your spouse and determine you and your children's living right away. If your house is big enough, you can attempt to live together, but in separate areas. However, this almost always leads to animosity, so if you have children, it is important to have a custody agreement before either spouse moves out.