Yes, I know it can be boring when you feel your life is being ripped apart but believe me, you’ll thank yourself after when life has calmed down a little.


You can google finances and yes, there are plenty of sites which offer advice about pensions, Muny Bonds, PEP’s ISA’ 401K’s etc and they are good but what I’m talking about is the simple things we miss so easily.


When I looked back now these are the things I really wished I had thought of or acted on. Before you leave:


Are you on the mortgage?


Simple. Are you on the mortgage of the home you share? How will it be managed when you’ve gone? Will your spouse/partner keep up with the payments? Will you want the home sold? If yes, then here’s something we forget when calculating it, does it have a Redemption Penalty? If so, is it a simple 3-2-1? Three months payments back in the first year, Two months payment back in the second and one month's payment in the third and last year of the redemption term. Or is it calculated with a simple percentage interest payment? Why do you need to think about this? Because if you think you’re mortgage amount is the total, it might not be! You need to know so you know if you are using the house in the settlement, you want to know what you are looking at financially. I speak about these penalties and fees and a lot of people just look at me blankly. Most of the professionals won’t even mention it to you, let alone explain it! Why am I mentioning this? Because I was a mortgage broker and saw it happen too many times.


'When I looked back now these are the


things I really wished I had thought of or acted on.'


Credit Report:


Before you leave obtain a fresh copy of your credit report. See, what you and your partner have jointly and what is solely in your name. Make a note of everything in it and make sure that after you leave your ex doesn’t decide to go out and get more credit. This will affect how much liquid cash there will be left to divide. I know, it has happened to me.


Bank Accounts:


Do you have a joint bank account? If you do it’s time to start thinking about your own account, yes in your own name! I know a lot of people don’t have joint accounts and keep everything separate, but if you are in an abusive relationship, it has probably been a joint account. Now is the time to be you, the real you with your own account. Start it and start putting money into it before you leave, if you look around you can do it very easily. You will have to declare it once the divorce starts to push through but it might make all the difference between eating and going hungry, seriously! Back yourself up financially, as best you can before you go, even if that means leaving your savings or bank card with someone you know and trust. It might not be hundreds or thousands but every little helps. When I left mine, we had separate accounts, we banked at the same bank, his name was Chris,


PHF Magazine July 2017 8


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