Dear Kim,
In my marriage, my career has always come in second place since we moved a lot for my husband’s job. I haven’t been able to save much money because of this. We are having a hard time, and divorce might be in our future. If so, how do I start anew?
Sincerely,
Starting Over Spouse
Dear Starting Over Spouse,
First, understand that assets accumulated during your marriage are generally considered marital (joint) assets, regardless of whose name is on the account or whose paycheck funded them. Even if you weren’t the primary earner, you may still be entitled to a portion of those assets in a divorce.
How those assets are divided will depend on your state’s laws and whether your case is resolved through mediation or court proceedings. That’s why full financial disclosure is so important. Both spouses should provide a complete accounting of all assets, debts, income, and liabilities so that everything is properly considered.
If you haven’t had direct access to your marital finances, now is the time to request detailed information. Gather copies of tax returns, bank and investment statements, retirement accounts, property records, insurance policies, and any outstanding debts. Having a clear picture of your financial situation is a critical first step in starting over.
It’s also wise to consult with an experienced family law attorney and possibly a financial professional who can help you understand your rights and plan for your next chapter. While the prospect of starting anew can feel overwhelming, understanding your financial position will give you clarity—and a foundation to rebuild with confidence.
Kim
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