Relationship Breakdown - How to Protect Yourself Financially, Emotionally and Spiritually

When a marriage or common law partnership ends there are many vital details that need attention when you are separating money, debt, personal household belongings, children, pets and friends. Undoubtably a difficult process for any individual to manage all of these items when there are so many details to work through, especially when you are emotional and cannot find the energy to think clearly.

There is a support Guide now available to do the thinking for you. The book, 'The Business of Breaking Up - Your Personal Guide' breaks it down to ease the process while protecting yourself financially and emotionally.

There are numerous mistakes people make which ends up costing money and hardship. People do not often see potential risk when making important financial changes as thier situations change. One important example is the decision to separate debt. This is key for several reasons. Can you imagine keeping a joint vehicle loan and for some unforseeable reason, the partner who promised to pay doesn't or cannot make payments. People need to understand that regardless of any verbal agreements made as to who will keep making payments for credit, both parties are responsible in the event that there is a late payment or skipped payment. I would suggest separating all debt in this case so that each individual protects thier own credit rating or score. Another reason to be independant on credit using the same scenario is that remaining as a co-borrower could effect future credit capicity. This means that if you stay on this vehicle loan and you need to go ahead and get your own loan for your own vehicle, you may not quality because you have too much credit that you are responsible for. This example talks only about loans. Credit cards has it own set of issues but none the less - as you move through the process of separating everything that was once shared, my recommendation is to do the same with credit cards.

I wouldn't stop there. Separating assests whether that be chequing or savings accounts, term deposits or anything else that is joint should be decided and distributed early on. I have seen situations while working in a financial institution where one spouse comes in to make a withdrawl and unfortunately the balance has already been withdrawn. Fair or not... I am not in a position to judge but the point is that as joint owners, both have access to withdrawl the money.

I have only discussed a couple of important items that neet to be considered when separating finances. There are many more areas to cover. The book, 'The Business of Breaking Up - Your Personal Guide' talks more about these items along with important considerations for separating everything that was once shared.

It is an overwhelming life change that can seem frightening and impossible to deal with. The book is an organized and easy to read and understand approach to managing all the details and changes that need attention. It offers checklists, bugeting tools, tips to reduce monthly expences, ideas to increase income, thoughts and ideas to keep positive and healthy emotionally and physically. It's a harder road for some but no one needs to do it alone anymore. I can help.

Bhairvi Johnston is an author, public speaker and motivator who has 17 years banking experience. As a Financial Advisor giving advice to individuals with respect to managing their assets and debt was a rewarding experience as she was looking for ways to help people succeed and reach thier financial goals. In the latter years as a Facilitator with the bank she developed her coaching, teaching and public speaking skills.

Now, mother of two and in a healthy loving marriage, she is sharing her learning with others. Her new book was launched June 3, 2006 and since has been gaining great momentum in the media. Bhairvi lives in Calgary, Alberta and is touring Canada sharing her useful and productive Guide. You may veiw her appearance and events through the book's website at http://www.breakingupguide.com

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