Keep separate identities 'in case of break-up'

It is important that people keep their own individual financial identity when in a couple in case there is a sudden break-up, it has been advised.

Several issues, including cohabitation agreements, can come up in cases of divorce or separation and as such it might be wise to consider a number of precautionary options, Forbes Money Builder suggests.

Among these is avoiding completely combining finances as this can make things more difficult should relationship problems arise.

"Joint access to credit cards and bank accounts can make life easier for unmarried couples, but if the relationship ends suddenly ... you'll want accounts of your own to fall back on," the publication said.

Lea Viken, a divorce expert, claimed that it is easier to stay out of trouble than it is to get out of it when it comes to these situations.

Earlier this year, Meredith Goldstein of the Boston Globe stated that finances are becoming a bigger issue for separating couples, which is boosting the popularity of DIY divorce.

Written by Christopher Evans

Published on: June 30, 2009

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