Getting Divorced? Follow These Steps to Protect Yourself Financially

Divorce is a difficult process in all aspects. It's emotionally trying and can be financially draining. You need to protect yourself and your children, if any, from the financial blow that the divorce can bring. Without preparation or early guardrails in place, divorce can be a messy battle financially. While there are really no winners in divorce, the process can be done amicably, with the couple dividing properties and other assets in the most beneficial way for both parties.

Here are steps you can take to help protect yourself financially during a divorce:

Know all your financial details. It's relatively common that just one spouse knows all the financial assets, documents and account details of the family. One spouse is usually in charge of keeping these money-related items in order. Be proactive and keep your own record of financial documents, policies, account numbers and online passwords for safekeeping. If you own property, make sure you have a copy of the deed.

Cancel joint credit cards. Inform your partner first that you're canceling joint credit cards for security reasons. Some angry spouses may spend heavily or max out the cards to get back at their partner. If you're going through a divorce amicably, you can cancel the cards together. If you're not on good enough terms to meet, inform your spouse over the phone, then call the bank immediately. It's best to document the cancellation by sending a fax or email to the bank saying that your divorce is ongoing and you want to either cancel the card or remove your name from the account. You need to state clearly that you are not responsible for future charges effective immediately.

Sell joint properties. Liquidating assets can help secure your financial future. Your house may have sentimental value, and it might be very tempting to keep it. If you do decide to keep it, double-check your budget as a single person and make sure you will have enough income to afford it. You may opt to sell for the flexibility that money provides. You might even end up getting a better house at a lower price with the money you get from the sale of the joint property.

Keep track of all your debts. This is important especially with couples living in community property states, which dictate that you not only have the right to half of your assets but also have ownership of half of the debts incurred during your marriage. Make sure that there are no debts that you're unaware of. This often comes as a nasty surprise for divorcing couples.

Have your own bank account. Make sure that you're not solely dependent on joint bank accounts. While married, you may consider opening an independent account for emergency purposes. Regularly deposit to that account as a safety net in case divorce happens. Some spouses drain joint bank accounts as soon as the other party mentions separation. This can put the other party in a difficult financial situation. Don't let this happen to you.

Do not hide assets. During a divorce there is a legal process called "discovery." It is the way divorcing spouses get information about each other's bank accounts and other financial details. During this process, you turn over—under oath—all relevant financial information. Lying can get you in trouble for perjury. Don't do it.

Get legal and financial advice. Get a lawyer or mediator to help you with your divorce proceedings. A good lawyer might come at a high price tag. You might want to consider getting a mediator instead, especially if you and your partner are on speaking terms. It's also important to consult with a financial advisor to guide you in your financial decisions during and after the divorce. Third-party advice can be of great help especially during this emotional time. A professional can help you see your situation objectively and pragmatically.

There's no easy way to go through a divorce. Open communication with your partner can help you navigate the financial aspects of the divorce more smoothly. Don't hesitate to ask for professional advice on these matters. Remember that there's life after divorce and that you need to have as secure a financial footing as possible to move forward.

Seven Ways Seniors Can Meet Others

There is no age limit for meeting new friends. It's for both the young and old, and can be vital to your overall well-being.

A study by University College London showed that social isolation can be detrimental to a senior's health: Socially isolated people in the group (ages 52 and above) were 26% more likely to die earlier than those with socially active lives.

With retirement giving you more time to reconnect with your longtime circle of friends, it is also an opportune time to start building new ones. Here are seven easy ways you can meet people as a senior:

• Travel. See the world and explore different places. Immerse yourself in another culture. Traveling will allow you to meet people of different cultures and backgrounds.

• Pursue your passion. This could mean enrolling in a class or getting an instructor. But since your aim is to meet people, it's more ideal to be in a class. You can take up photography lessons if that's your passion. You can enroll in art workshops, creative writing seminars, culinary courses or whatever fires your interest.

• Volunteer in your community. You can devote time in your local schools, animal shelter, museum, church, library or hospital. Sites like createthegood.org allow you to search for volunteer opportunities. A lot of nonprofit organizations can use an extra pair of hands, giving you the opportunity to meet like-minded volunteers.

• Go social. Are you on Facebook? If not, then consider creating an account. Social media allows you to connect with old friends and meet new ones. There are also Facebook groups you can join that suit your interests. Did you know that 56% of online seniors (above 65) are Facebook users? Don't be left behind!

• Hit the gym. Being in optimal health should be one of your main goals. Go to the gym for your regular exercise. Consider joining a class where you get to be with the same group of people on a weekly basis. Getting fit while gaining new friends can be a win-win for you.

• Take a part-time job. Some of us are just wired to do something regularly. If you're one of them and relaxing at home isn't your cup of tea, then consider a part-time job. You can accept consultancy jobs that rely on your expertise and don't require you to report to work every day. You can also start a coaching or mentoring career. A job could open doors to new friendships.

• Go online. If you're interested in dating but are not keen on your friends' referrals, then you might want to consider online dating sites. You can browse through the sites to get a feel for them. If they don't fit your personality, then you don't have to sign up or meet with anyone. But if you're willing to take a risk on love, this could be an ideal way to do so.

It may take time to build a new network of friends now that you no longer have business appointments or work commitments. The above tips can help, but it doesn't have to get complicated. Sometimes all you really need to do is go out and strike up a conversation with someone at the park or at a restaurant, and before long, you'll have a community of friends to enjoy in your golden years.

Puppy Love: Pets Can Offer Health Benefits for Seniors

Pets are great companions. They bring life to any home and make their owners feel loved. Seniors can benefit greatly from owning pets. From a positive mental disposition to physical improvements, having a furry friend around offers health advantages.

A study by the American Psychological Association showed that pet owners' well-being fared better than their non-pet-owning counterparts. Pet ownership also helped fulfill their social needs. Research has shown that elderly people who own pets need fewer doctor's visits, too.

Here's a rundown of some of the health benefits that seniors with animal companions may enjoy:

• Lower blood pressure. The Baker Medical Research Institute in Melbourne, Australia, conducted a three-year study that showed pet owners had lower blood pressure and triglyceride and cholesterol levels compared with non-pet-owners. Interacting with pets releases the hormone oxytocin, which can help reduce stress and anxiety.

• Increased physical activity. Pets need exercise, which in turn, could increase a senior pet owner's daily activity. Walking your dog can improve your blood circulation and help you get in shape. It also calls for a regular routine. With a four-legged companion in tow, doing exercise can be more enjoyable.

• Reduced depression. With kids and grandkids moving away, empty nesting can be a long and lonely period. Having pets can improve your mood, help you cope with loneliness and keep your spirits up. According to a survey, 82% of the elderly respondents said that pets help when they feel sad, while 71% said that their pets help when they feel physically bad.

• Improved mental health. Pet ownership, and the need to care for the animal, can improve the alertness of seniors. Animal companions may even help spur memory recall. They also allow seniors to focus on something other than the physical challenges that may come with loss or aging. Studies have shown that Alzheimer's patients have fewer outbursts when they have pets at home.

• Increased social interaction. Going to the park to walk your dog allows you to socially interact with people. It gives you the opportunity to meet other pet owners and strike up a conversation with them. It can open doors for you to be part of a new community.

Anthropologist Margaret Mead once said, "Having someone wonder where you are when you don't come home at night is a very old human need." Pets can meet this particular need and more. They bring vigor and vibrancy to life. They are faithful companions that love unconditionally. They make life not only better but also brighter. If you're considering a pet, don't hesitate to consult veterinarians and animal shelters for help in choosing the right pet for you.

Dreaming of Life on the Road? Do Your RV Homework First

More than 30 million Americans are RVing these days. But as romantic as life on the road may appear, would-be buyers or renters of recreational vehicles need to do more than test-drive a potential home on wheels before joining the avid community of full- and part-time RVers.

As a would-be RVer, you should examine all aspects of RV living, including how to choose the right RV, how to negotiate with dealers, how to buy the right insurance, and, yes, even how to drive an RV before chasing such an idyllic life.

And what are the elements of the idyllic RV life? Let's start with a definition: An RV is a vehicle that combines transportation and temporary living quarters for travel, recreation and camping. Combine those aspects and you get what The Complete Idiot's Guide to RVing says the typical RVer enjoys: the ability to travel where and when they want; the chance to spend time with loved ones; a way to travel relatively inexpensively; the ability to avoid the hassles of commercial travel; and the opportunity for those who have special needs to travel in comfort.

Not Just Retirees

RVers, contrary to popular opinion, are not just retirees. They come from all walks of life. According to a study by the Recreational Vehicle Industry Association (RVIA), the typical RVer is 48 years old and married and has an annual household income of $62,000. RV owners are likely to own their homes and spend their disposable income on traveling—an average of 4,500 miles and 26 days annually. Would-be buyers and renters should note that many dealers, in light of high fuel costs, offer discounts, including gas cards and loyalty programs.

Nuts, Bolts ... and Wheels

Getting a handle on the various types of RVs is another necessary step. The two major types are motor homes (motorized) and towable (towed behind the family car, van or pickup). Of the motorized vehicles, Type A motor homes are generally the most luxurious and the largest, ranging from 26 to 45 feet. Type B motor homes, or van campers, are the smallest, between 17 and 19 feet. They may not be ideal for extended living, but can be great for camping trips. Type C motor homes are the middle ground between Type A and B, ranging from 22 to 35 feet. Finally, towable RVs include folding camping trailers, truck campers, conventional travel trailers and fifth-wheel travel trailers.

No matter which type you choose, your RV should have a place to sleep, a place to cook and a place to live. After that, choosing an RV that's right for you is a function of budget and preference. According to RVIA, prices for new towable RVs are typically $5,000–$22,000 for folding camping trailers, $6,000–$55,000 for truck campers, $8,000–$94,000 for conventional travel trailers, and $18,000–$160,000 for fifth-wheels. For new motor homes, the cost is generally $44,000–$200,000 for Type C, $60,000–$130,000 for Type B, and $60,000–$500,000 for Type A.

Doing your homework before purchasing an RV is essential. At the least, you should plan to attend an RV show or visit a dealer to comparison-shop; examine different models, vehicle types and floor plans; and learn about financing and insurance options. Renting an RV can be an ideal way to try before you buy.

At a minimum, you should examine how suitable the RV is for your needs. For example, will you use your RV for the occasional camping trip or as a place to live? When considering an RV, make sure to test the beds, showers and living spaces. Take the vehicle for a rigorous road test, listening for signs of engine trouble. If you're considering a used RV, make sure to inspect inside and out for signs of previous repairs, rusts and leaks. If you plan on buying a towable RV, check its weight. You don't want to find out after the fact that you have to buy a new car or truck to tow your new RV.

Other homework is required. Lemon laws, which guarantee consumers replacement motor vehicles or refunds after a certain number of problems or days in the shop, vary by state and often don't apply to RVs. Thus, RV owners, stuck awaiting repairs, often have little legal recourse. RVs tend to have more problems than other vehicles because they are made in much smaller quantities and without the same sophisticated manufacturing methods.

A Few Tips

Other tips to consider:

• Private sellers may offer lower prices but no warranties or returns. If you buy from a dealer, be sure to audition them with respect to price, knowledge of staff, service facilities and reputation.
• Check whether the dealer and manufacturer you plan to work with has any complaints against them with the Better Business Bureau or regulators.
• Make sure your dealer has a service department with RV-certified mechanics.
• If you are buying a used RV, get as much history as you can, especially repair records.

And no matter your final decision in the process, get out there and enjoy the open road!