Separation is hard and unfortunate. But if things are not going well together, it is wise to separate your ways. Here are 10 things to do when you separate:
1. Take care of yourself.
Separation is stressful not just for you but for your partner as well. Unfortunately, the trauma is doubled if the children's are involved. You need to make sure that you have your friends and family support during this difficult phase of life. Do everything to remain calm. In some cases, it is often a good idea to seek for a counselling from the experts.
2. Inform the bank about separation.
You need to inform the bank that you have separated as soon as possible to avoid any transactions without your consent. Take measures such as joint signatures to ensure that neither party can withdraw money without the consent of each other. Consider the option of cancelling the secondary card holder on your credit cards.
Depending on your situation, it is always a good idea to open a new account in your name and add your income deposited into this account for extra protection.
3. Secure your passwords
You might want to change your passwords on all E-mails, LinkedIn, Facebook, Instagram and any other social media platforms. This will restrict your ex from accessing your confidential information. You should leave no stone un-turned to prevent your ex from tracking your movements.
4. Collect all your documents
You must collect all your personal documents like bank statements, passport, insurance policies, company documents and tax returns. Take copies of marriage certificates or any other documents to make your case easier.
5. Secure sentimental possessions
In case you are leaving the house, it is essential for you to take all your sentimental or personal possessions. It becomes much harder to face your ex and get the things once you have left. You have to seek permission from other party to sell or destroy any property.
6. Update your will and power of Attorney
This might be the last thing in your mind but this should be done at the earliest to avoid any clash in the future related to the property.
7. Workout your budget
Now that the situation has changed, you should review your budget again.
Can you support yourself financially? If not, is your ex ready to support you?
If so, you might be entitled for spouse maintenance or child support. Find out from the solicitor how much your are entitled to get or obliged to pay. Solicitor helps to negotiate these payments. It is also a good idea to consult a financial planner after separation.
8. Secure assets
It is important to protect your assets that your spouse could sell after separation. Register a pending litigation certificate against a family home to prevent it from getting sold, particularly if the home is not in your name. You can also get a court order restricting your ex from selling assets like vehicles, company shares without your consent.
9. Make arrangements for children
If you have children, then its your responsibility to make them understand about the present situation of separation. If you can’t, then seek an advice from a professional. Additionally, you also need to create a parenting schedule for your children, and arrangements for their financial support.
10. Legal advice
Each separation has a set of unique facts, and it is extremely important that you are well aware of all your rights and responsibilities.