Divorce is hard. Protecting your finances doesn’t have to be.
Whether you’re just thinking about filing or you’re knee-deep in negotiations, one thing is certain: your financial future is on the line.
At Martine Law, we’ve helped countless clients get through the money maze of divorce, and we’re here to make it a little easier for you. Here are 10 powerful strategies to protect your finances during divorce. Each one is practical, doable, and designed to help you walk away with peace of mind.
1. Know Your Entire Financial Picture—Down to the Penny
This isn’t just a good idea, it’s a must. Start by gathering everything: bank statements, tax returns, credit card balances, investment accounts, loan documents, and anything else that tracks your money. If you don’t know what you have, you won’t know what you’re entitled to (or what you might lose). Set aside time to organize, label, and back up your records digitally. This prep can save you thousands and give your attorney a clear path forward.
2. Shut Down (or Safeguard) Joint Accounts
If you have joint bank accounts, credit cards, or loans, those can become risky territory fast. If your spouse racks up debt or drains a shared account, you could be held responsible. Don’t wait! Talk to your lawyer about the best time to close or separate accounts. In some cases, removing yourself as an authorized user or freezing the account is the smarter, legal-first approach.
3. Keep a Close Eye on Your Credit
Pull your credit reports from all three bureaus (Experian, Equifax, and TransUnion). Look for any unfamiliar accounts or balances. A credit freeze might be smart if you suspect shady behavior. It blocks anyone (including your ex) from opening new accounts in your name without your permission. Divorce is stressful enough, don’t let bad credit add to the mix.
4. Document Everything Like a Detective
Every Venmo payment, every text about money, every agreement about who’s paying what…save it. Screenshots, bank transfers, even receipts from Costco can end up mattering more than you think. Keeping a clean paper trail helps you avoid disputes and can become crucial evidence if things get contentious.
5. Hit Pause on Big Financial Decisions
Now is not the time to buy a boat, sell your crypto, or “gift” your cousin $10K. Courts can view large financial moves during divorce as suspicious, like hiding assets. Even well-meaning actions can backfire. Always check with your attorney before making major money moves.
6. Bring in a Financial Pro (They’re Worth It)
Think of a certified divorce financial analyst (CDFA) or forensic accountant as your financial bodyguard. They specialize in spotting hidden accounts, valuing businesses, and calculating fair settlements. If you’ve got a business, real estate, or high-value assets, hiring one of these experts can be the difference between getting by and getting what you deserve.
7. Know the Basics of Minnesota Divorce Law (But Don’t Get Lost in the Weeds)
Minnesota follows “equitable distribution,” which means assets are divided fairly, not always 50/50. Most things acquired during the marriage are considered marital property, including retirement savings, even if only one spouse’s name is on the account.
If you had assets before marriage, inherited money, or received a gift just for you, that’s typically considered non-marital property—but only if you didn’t mix it with joint funds. Deposit grandma’s inheritance into a shared checking account? You might lose your claim to it.
Bottom line: don’t try to decode the law on your own. Work with an attorney to draw clear lines between what’s yours, what’s shared, and what’s fair.
8. Don’t Sleep on Retirement Accounts (They’re Often Worth More Than the House)
Retirement accounts (401(k)s, IRAs, pensions) can be some of the most valuable assets in your divorce. In Minnesota, the part of these accounts earned during the marriage is usually split. Even if an account is in your name alone, your spouse may still be entitled to a portion.
Get statements from every retirement account (yours and your spouse’s). Be thorough. Some accounts get overlooked because they’re tied to old jobs or smaller employers. Knowing what’s out there helps ensure you’re not leaving money on the table.
Also, airline miles and credit card points come up more often than you’d think. Don’t ignore them.
9. Start Budgeting for Your New Normal Now
A single income. New housing. Different insurance plans. It adds up fast. Start building your post-divorce budget today so you can negotiate a settlement that reflects your future needs, not your past lifestyle. Don’t just guess. Factor in everything from rent to subscriptions to childcare.
10. Work With a Divorce Attorney Who Gets It
This isn’t just legal paperwork, it’s your life. A good divorce lawyer does more than file motions. They help protect your assets, guide you through complex issues like alimony and child support, and fight for what’s fair. Choose someone who listens, explains things clearly, and has a solid track record in family law.
You Don’t Have to Navigate This Alone
Divorce might feel like the end of stability, but it can also be the beginning of a more secure, independent future. At Martine Law, we’re here to help you protect what matters most. With the right legal guidance and proactive financial planning, you can walk into your next chapter with confidence.
Need support? Contact us today to schedule a consultation with a member of our trusted Minnesota divorce team.