How to Protect Money in a Divorce

Video Transcript

"You're getting divorced and you're concerned about how to protect your money. Hi, I'm Robert Todd and I'm here to answer the question How do I protect my money in a divorce? Well, first of all you should consider monitoring and closing joint accounts. It goes without saying that until the joint accounts are closed you run the risk of these joint accounts being emptied or otherwise. Next, you should protect your identity. You want to make sure that your name and your name alone is on your credit cards and is on important documents with financial institutions. Again, you're eliminating your spouse having the opportunity to somehow jeopardize your relationship with the financial institution. Next, you want to stay on top of your finance. You want to make sure that you're paying your bills on time and in the correct amounts. And you want to deal with your debt. Don't leave it for a later day. Deal with it now! And if possible you want to boost your credit and you want to take it easy. Now is not the time to go out and spend, spend, spend. I'm Robert Todd and thank you for watching!"