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When going through the divorce process the ugly side of people can emerge.

Let’s face it!  You may come to find out that the man you once trusted at one point has betrayed that trust.  You may find it’s necessary to keep him at arm’s length across a variety of aspects of your life.

You can take steps to protect your assets to a certain extent.  You will note that some of the suggestions I am making you should do on an on-going basis to protect yourself.

Tips for Protecting Your Assets

If your Ex Husband has ever had keys to your residence; change all the locks in the house.  Just because you got a key back doesn’t mean he didn’t make a copy.

If you have an automatic garage door opener, change remote settings and also keypad access code.

Internet Accounts:  Change all passwords immediately.  This is not only for the obvious financial institutions, it goes for any account you have.  A friend of mine that got divorced didn’t change her frequent flyer accounts and when she went to go book a vacation utilizing her free miles, she discovered her Ex-Husband had already helped himself.

If you‘re Ex has access to your house, like for dropping off the kids, keep important papers under lock and key.  If you have a computer, ensure you have login enabled and please don’t post the password on your desk!

Remove him, immediately, from all work related benefits.  Not only will this most likely save you money but you will not be responsible for any of his medical/dental claims.  If he needs insurance he can get his own, or Cobra is available for divorced spouses.

Change all beneficiaries for any insurance or investments you have immediately.  That goes ditto for your will.

If you receive child support or any other check from him consider setting up a free bank account separate from your primary and transfer money as needed.

Everyone is eligible for one free credit report each year.  You can Google it online.  Run a free credit report each year and review it.  If you see any accounts open that are joint, you are financially obligated for payment.    You should run this report every year to protect your credit.  There are instructions online to tell you how to dispute items that appear.

After being divorced for a couple of years I ran my first credit report and came to find out that we still had one joint credit card he still used that I wasn’t aware of.  I also found out that he was getting ready to declare bankruptcy and this would have affected my credit as well.  I elected to pay off the credit card (it was a low amount), close the account and tell him what I did (not why!)  I made the decision that paying off that account was more beneficial to my credit.

If you are concerned about your Ex opening up credit cards in your name, you can pay to have Credit Alerts put on your records.  Anytime a credit check or line of credit is opened in your name you can get an immediate alert about that activity and respond accordingly.

Let’s be Honest.  Frankly, it sucks having to take these types of steps; but if circumstances in your life warrant it than this is just being financially responsible and you’ll sleep better knowing you’ve done your best to protect your assets.

www.steppingintojoy.com




Member Comments

    • 0 votes vote up vote up

      Cc-u wrote Feb 22, 2012
    • Problem with some joint accounts, though, is that they may not take off one name unless both parties agree.  Believe me, I’ve tried



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    • 0 votes vote up vote up

      Steppingintojoy wrote Feb 24, 2012
    • That is why the accuont must be closed; either party can do it.  But to do that the balance must be paid off .. which is what I elected to do.

      If this is listed as an asset that he is suppose to pay and you have that listed in your court papers .. you can send a copy of that to the credit card company as proof you‘re not legally responsible to have your name removed.



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