If you’re going through a divorce, ensuring you can cope financially will be one of your key concerns. Here are three things you should act on straight away.

1. You might not need a solicitor

If you can part on good terms, you don’t necessarily need a solicitor to process your divorce. If you wish, you can arrange everything on your own or by using an online service. If you need more help you can seek advice from a solicitor and do the paperwork yourself. Alternatively, an impartial third party could mediate to help you come to an agreement.

2. Protect yourself and your money

If things aren’t going well, take some steps to protect yourself financially. Contact the Land Registry and your mortgage lender to ensure your home can’t be sold without you knowing. Or see if you need to adjust your tenancy. 

Talk to your bank to discuss your options on joint accounts, credit cards or loans, and think about any income or outgoings—you may want to move them to a personal account. Your credit rating will be tied to your partner if you were both named on anything, so you need to get a “notice of disassociation” with the credit agencies.

Also think about pensions, wills and any death-inservice policies you have, and change the names of beneficiaries on these.

3. Start Budgeting

The earlier you look at your new situation the better—even if it’s a big step emotionally. Cut back if you need to and consider if you can switch any bills to cheaper deals. If you’re living on your own immediately after the break up you can claim a 25% council tax reduction, and you may even be entitled to benefits.

Reader's Digest Legal can help you set up your legal affairs from the comfort of your home. Click here to arrange a FREE consultation now.

Further advice is available at moneyadviceservice.org

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