2. Figure out insurances. One financial matter many do not carefully consider when getting a divorce is insurance. Often times things like health insurance are covered by one of the two's job. So, what do you do about premiums, or finding new coverage? It is usually best to simply each get their own coverage even if the existing coverage is best, it solves lots of problems. The same holds true for house insurance, car insurance, dental, life, etc. Cancel your policies if necessary, and start over individually.
3. Split children's bills. One of the money matters that becomes a huge headache after a divorce is the bills a child incurs, such as orthodontic bills, hospital visits, dances, school registration, clothes, etc. It would be best to split these right down the middle, but what do you do if one parent wants the child to have something the other child does not agree to, or can not afford, such as braces? This is to be discussed, and no action should be taken until a decision is made. If at all possible, split any pre-divorce bills 50-50.
4. Determine value of assets. One thing you have to do when getting a divorce when you are trying to split things up is determining the value of your assets. You have cars, computers, movies, home theater equipment, cell phones, time shares, etc. all of which hold value, and that value needs to be accounted for. Usually it is best to hire a third party to evaluate and assess value so no emotional value is placed on the items.
5. Get hired help. Usually when dealing with money matters after a divorce it is best to get an attorney or hired help. You will want to immediately get separate bank accounts, and start depositing your earnings into a non-shared account so that they can not be considered with the divorce. You want to get your utilities in just your name, get your insurances in just your name, etc. Any debts incurred should be discussed and determine who will make payment, and how compensation for past payments will be made. There is a lot to money matters in a divorce, and that is why it is best to get an attorney to help you wade through the mess. You would hate to end up with thousands of dollars in late fees and attorney and collection fees because a bill was not paid because you thought the other person was paying it and they thought you were. So, start with debts, figure out who will pay for what, or how to absolve these debts, and move on to assets.