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Anderson and Associates, P.C.

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Orland Park divorce lawyers

Divorce is stressful and it is rare that anyone walks away financially unscathed. Splitting up means leaving a combined household and having to set up two different homes and lives. It also means assets and debts will be divided, and despite the best efforts of the court, individuals often feel shortchanged. However, there are some steps a person can take in order to take less of a financial hit in a divorce. 

Know Your Assets and Debts (And Your Spouse’s)

Not every husband or wife is totally honest about what they own or what they owe. If you are faced with divorce, one of the first things to do is account for all bank accounts, investments, retirement plans, insurance policies, etc. that your spouse has. You also need to know where you stand on debt, like credit cards, taxes, and medical bills. One way to go about finding any hidden items is by getting a copy of your spouse’s credit report. If there is anything you do not recognize, you will need to dig deeper, perhaps with the help of a forensic accountant.

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