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Three critical steps in preparing for a divorce in Wisconsin

| Jun 10, 2021 | Property Division |

When you file for divorce in Wisconsin, you don’t want aspects of the process to take you by surprise. You should learn about what you need to do and avoid doing to help the divorce go more smoothly for you.

Close joint credit cards

You should close joint credit cards to avoid responsibility in paying off your spouse’s debt. Some people drive up credit card debt when they find out that their spouse wants to dissolve the marriage. In reality, both parties are responsible for the debts regardless of whether or not one spouse didn’t approve of the purchases.

Continue paying the mortgage

If you want to keep the house or part of the house’s value, then you shouldn’t move out or stop paying the mortgage. Moving out is only advisable if your spouse is abusing you. Secure evidence of the abuse to prove it in court as this might tip proceedings in your favor. If you think moving out is necessary in your situation, then continue paying as much of the mortgage as you can to protect your right to the property.

Consult with a lawyer about financial accounts

Financial accounts are trickier than credit cards during a divorce. You could get in trouble in divorce court for closing a bank account or withdrawing all of the money. For this reason, you should consult with a lawyer on what to do with your joint bank accounts.

You could open a separate bank account and begin having your paycheck deposited there to help protect your money. Common solutions to protecting the joint bank account until the divorce are requiring signatures of both spouses to withdraw money and freezing the account. You should consult with a lawyer before doing something like freezing the account or withdrawing half of the money.

Securing your finances and protecting your rights are important to do before a divorce. It’s not easy to figure out all of this information on your own, which is why a divorce lawyer may be helpful.