Stage 1 - Preparing for Financial Separation
| Obtain information about separation and family law, including property division laws. How will your property be divided? | |
| Review the specifics of all financial accounts. Make sure you have access to all information: account numbers, financial institutions, insurers, your tax accountant, important documents and contact information for each. | |
| Make copies of all relevant documents and computer files with financial data for yourself. | |
| Meet with a financial planning professional and a tax accountant to discuss the financial and tax implications of decisions you will need to make as you plan for separation. | |
| Make sure you have access to savings of your own in the event that you must suddenly rely on your own resources to meet household and personal expenses. | |
| Make sure you have a credit card in your own name. If not, apply for one. | |
| Begin an inventory of all separately and jointly-owned assets. Include investments, cash, vehicles, real estate and furniture. | |
| Obtain appraisals of assets such as art, antiques, fine jewellery and other tangible items. | |
| Make a list of all outstanding debts. | |
| Verify the contents of any joint safety deposit box. | |
| Pay down the balance of as many bills as possible. |