A divorce can be a trying and difficult for everyone involved, but it can be even worse if you are not financially prepared to live a financially single life again. In a typical American household one spouse takes care of all the bills and finances. If you are not this spouse your quick action will reward you in the end.
Once you known a divorce is probably on the horizon it is important to establish your own checking accounts and credit cards to separate your finances from your spouse. It is also important to gather and have your own copies of important financial documents that will help determine your combined wealth such as mortgage papers, property deeds, insurance documents, and as many tax returns as you can get your hands on.
Make sure you close all joint accounts as soon as possible, especially joint credit cards.
Another critical aspect of a divorce is to plan out your own budget for monthly expenses. This not only gives you a sound financial foundation, but will give you guidance in the divorce settlement.