Heading for a Divorce? First, Get Your Finances in Order

January 14, 2011  |  

(Daily Finance) — Getting a divorce can be traumatic. It’s an ordeal that can take a financial and emotional toll on everyone involved. Even when the intent is to have a “friendly,” nonconfrontational divorce, both parties must make sure they’re doing everything possible to protect their financial futures. But quite often, people in the midst of a divorce don’t know which financial decisions will serve their long-term interests best.  The website divorcerate.org, which monitors statistics on divorce from a number of organizations and foundations, estimates anywhere from 40% to 50% of all marriages in the U.S. end in divorce. Second and third marriages have an even worse track record — with more than 60% of those unions ending in separation.

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