PREPARING FOR DIVORCE

While you and your partner are just thinking about divorce:

1. Start putting away savings in an account of your own. This will give you ready cash in case your spouse suddenly stops contributing to household bills.

2. If you do not have credit in your own name, get it. Apply for credit cards and if necessary have someone other than your spouse co-sign an small bank loan. In addition, request that the Credit Bureau in your town or county report all credit in both your social security number and your spouse's social security number.

3. Make an inventory of all separately and jointly held assets, including investments, cars and furniture. Gather as much documentation concerning those assets as possible.

4. Gather an inventory of all outstanding debts and keep copies of documents reflecting those debts.

5. Have your bank verify a list of the contents of any joint safe deposit boxes.

6. Gather paystubs, tax returns, other financial documents.

Once you have decided to get a divorce:

1. Notify banks and brokerages where you and your spouse have joint accounts of your intent to divorce. Ask that no brokerage transactions be carried out without the written approval of both you and your spouse.

2. Close out joint charge accounts, or, if you wish to keep the accounts open notify the creditors in writing by certified mail that you will no longer be responsible for your spouse's purchases.

3. Try to negotiate an agreement with your spouse on the division of assets, child support and visitation rights. If you want child support or alimony, list your monthly and yearly expenses so your lawyer can make a case.

After the Divorce Decree becomes final:

1. Re-write your Will to name an heir other than your spouse.

2. Review health, life and disability insurance coverage and change the beneficiaries on policies you own unless your settlement requires you to continue to protect your ex-spouse. Replace any protection you have lost.