In many marriages, one spouse takes the lead on the finances. They manage the accounts, pay the bills, file taxes, and make most of the investment or budgeting decisions. That may work fine during the marriage—but when divorce happens, it can create a serious imbalance.
If you’ve been in the dark when it comes to the money, you might be feeling overwhelmed, unsure of your rights, or worried about getting taken advantage of. The good news: the law is on your side, and there are practical steps you can take to get back on equal footing.
Here’s how to start.
Step One: Gather What You Can
Even if you don’t know every detail, any financial information you do have access to can help.
Start pulling together:
- Tax returns
- Pay stubs
- Bank and credit card statements
- Mortgage or lease documents
- Retirement and investment account summaries
- Business records, if applicable
This gives your financial and legal team a starting point to understand what’s been going on and what needs to be accounted for.
Step Two: Full Financial Disclosure Is Required
Florida law (and most states) requires both spouses to fully disclose their financial situation during a divorce. That includes income, assets, debts, and expenses.
If your spouse is hiding information or dragging their feet, your attorney can use formal discovery or subpoenas to request documents directly from banks, employers, or other institutions.
The more complicated or one-sided your financial situation, the more important it is to have someone reviewing what’s disclosed—and flagging what might be missing.
Step Three: Consider a Lifestyle Analysis
If your spouse’s income is hard to pin down—because they’re self-employed, own a business, or earn bonuses or commissions—a lifestyle analysis can be useful.
This involves reviewing spending patterns, account activity, and asset purchases to help determine:
- True income and cash flow
- What it costs to maintain your standard of living
- Whether support or asset division is being calculated fairly
Even in modest households, this can reveal important information that helps with support negotiations or asset division.
Step Four: Don’t Overlook Asset Complexity
Even if you don’t consider yourself high-net-worth, you may have assets that need extra attention, such as:
- Retirement accounts (401(k), IRA, pensions)
- Stock options or deferred compensation
- Home equity
- Shared business interests
- Inherited property or gifts
These can carry tax consequences, early withdrawal penalties, or valuation questions that affect what a fair settlement really looks like.
Step Five: Build the Right Support Team
When one spouse has handled all the finances, it can be hard to know where to start. That’s where the right professionals make a difference.
A strong team might include:
- A divorce attorney who understands your priorities
- A Certified Divorce Financial Analyst® (CDFA®)
- A tax or forensic expert if needed
Together, they can help you understand your options, evaluate proposed settlements, and give you the clarity you need to make confident decisions.
Other Smart Financial Steps to Take Early
Alongside gathering documents and building your team, there are a few key moves that can help protect your independence and position:
- Change your passwords. Email, banking, cloud storage, Amazon—anything tied to your finances or communications should be updated to something your spouse doesn’t know.
- Accumulate cash. If possible and appropriate, begin setting aside funds for legal fees and living expenses in an account solely in your name.
- Redirect or scan your mail. If you suspect mail could be intercepted, consider setting up a P.O. Box or using USPS Informed Delivery, a free service that scans the front of each lettersized piece of mail arriving at your address and emails you a daily preview. It’s an easy way to stay aware of what’s coming without relying on your physical mailbox.
- Check and lock your credit. Pull your credit report and monitor for any unusual activity. Consider placing a credit freeze or fraud alert with the credit bureaus if needed.
These steps aren’t about hiding money—they’re about ensuring you have access to the resources and information you need to make informed decisions.
Final Thought
Not being the “financial spouse” doesn’t mean you don’t have rights. It just means you need the right support to uncover the full picture and protect your interests.
With the right tools and guidance, you can move forward with a clear understanding of what’s yours—and a plan for what comes next.
Contact us today to schedule a consultation. Together, we’ll build a clear strategy that protects your interests and sets you up for financial security post-divorce. Don’t leave your future to chance—let’s get started.
Contact Orlando Divorce Planning now to schedule your consultation and take control of your financial future.
Disclaimer: Orlando Divorce Planning is not a law firm or accounting firm. We do not provide legal or tax advice. This content is for informational purposes only. You should consult with a qualified attorney or tax professional for advice specific to your situation.