Celebrity divorces seemed to run rampant in 2011. There are also common folks who are divorcing, like a 99-year-old man who filed for divorce after he learned of his wife's affair in the 1940s.
Here are some important steps residents of Washington should consider, whether recently divorced or currently divorcing:
Separate your bank accounts: Do not keep your joint checking accounts open, if you have them. If you do, you run the risk of your ex draining the account. This measure prevents a lot of fighting in and out of court. At the time of separation, only take half of the funds in jointly held accounts and then remove your name.
Seek credit protection: If you are sharing loans or credit cards with your ex, work quickly to separate your name from these accounts immediately. If your ex doesn't care about his or her credit score, he or she may decide to go on a spending spree and ignore the bills. This could negatively impact your credit score. Obtain an official credit report from reputable agencies like Equifax, TransUnion or Experian in order to help ensure nothing goes unchecked.
Maintain personal insurance coverage: For couples sharing insurance plans, you may find you're without insurance coverage when your spouse removes you from his or her policy. Rather than going through this, set up a date to discuss insurance coverage with your spouse in order to arrange for your own policy to be set up.
Change your tax status: Your tax status changes to single the same year your divorce becomes final. If you pay alimony, this changes your income and deductions. Consider hiring a tax preparation specialist to help you file the first year to help ensure all the changes are met in accordance with state and federal tax laws.
Source: Money Talks News, "4 Steps to Take as Soon as You Say 'I Don't'," Angela Colley, Jan. 4, 2012







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