How to Protect Your Finances Before a South Carolina Divorce

Reviewed by Carrie Warner, Attorney at Law, SC Bar No. 72836 · Last reviewed November 2, 2026

The safest way to protect your finances before a South Carolina divorce is to learn exactly what you and your spouse own and owe, secure your own information, and avoid any move that looks like hiding or wasting marital money. Judges in South Carolina divide property based on fairness factors, and they can consider how each spouse handled money. Lawful, well-documented steps protect you far more than quick, secret ones.

Start with a clear picture of what you have

You cannot protect what you do not know about. Before anything else, make a list of every asset and debt you are aware of:

• Checking, savings and money market accounts
• Retirement accounts, pensions and investment accounts
• Real estate, vehicles and other titled property
• Business interests
• Credit cards, loans, mortgages and lines of credit
• Life insurance policies with cash value

For each, note whose name it is in, who can access it online, and a rough balance. Save recent statements. Our list of financial records you will need shows what to gather.

Pull your credit report

Your credit report lists accounts in your name, including joint accounts and any card you may not remember opening. Review it for:

• Joint credit cards your spouse uses
• Accounts where you are an authorized user
• New accounts you did not open
• Late payments that could affect your ability to rent or borrow after the divorce

If you find accounts you did not open, talk to a lawyer before taking action, since it may affect how debts are treated in the divorce.

Open an account in your own name

Many people open an individual checking account so they have a place to deposit their own paycheck and pay their own bills. That is generally reasonable. It is different from moving a large amount of marital savings into a new account your spouse does not know about.

A few practical points:

• Use a bank where your spouse does not have access or online login.
• Have statements sent to an email address only you use.
• Keep records of every deposit and withdrawal.
• Remember that money earned during the marriage is generally marital property, even if it sits in an account in your name.

Do not drain joint accounts

It can be tempting to empty a joint account before your spouse does. This often backfires. South Carolina courts weigh a list of factors in S.C. Code § 20-3-620 when dividing property, including the contribution of each spouse and any other factor the court considers relevant. Using marital money for non-marital purposes, sometimes called dissipation, can be taken into account.

For example, a spouse who withdraws most of the savings to pay for a trip with a new partner may be asked to account for it, and the judge may adjust the division. Read more in Wasting Marital Assets: Dissipation in a South Carolina Divorce and Can Your Spouse Empty a Joint Bank Account During a Divorce?

If you need money for living expenses, keep receipts and talk with a lawyer about what is reasonable. A court can also order temporary support while the case is pending.

Never hide assets

Hiding money, undervaluing property, or “parking” assets with a friend or relative is not a way to protect yourself. Each spouse must file a sworn financial declaration (Form SCCA 430) under Family Court Rule 20, and the other side can use discovery tools such as subpoenas and depositions to test it. Hidden assets that come to light can damage your credibility on every other issue in the case. See our page on hidden assets in a South Carolina divorce.

Secure your passwords and devices

• Change passwords on your personal email, phone, cloud storage and individual bank accounts.
• Turn on two-factor authentication where available.
• Check whether your phone shares location, photos or messages with a family account.
• Log out of shared computers and tablets.

Do not change passwords on joint accounts to lock your spouse out without talking to a lawyer first. And do not log into your spouse’s private accounts.

Avoid new debt and big purchases

Large purchases or new loans in the middle of a separation can complicate how debts are divided and how each spouse’s needs are viewed. The court considers liens, encumbrances and debts when dividing property. Until you have advice:

• Avoid opening new credit cards or loans unless needed for basic living costs.
• Hold off on buying a car or home.
• Do not co-sign anything.
• Keep paying existing bills on time where you can, to protect your credit.

Our page on debt division explains how marital debt is handled.

Document your property

Take dated photos or video of the contents of the home, especially valuable items such as jewelry, firearms, tools, art and collections. Write down serial numbers and keep receipts or appraisals. If you received something by inheritance or as a gift from a third party, collect proof of where it came from, since that property may be nonmarital under S.C. Code § 20-3-630.

Review insurance and beneficiaries carefully

Check your health, life, auto and home insurance. Make sure coverage does not lapse. Be careful about changing beneficiaries on life insurance or retirement accounts during the case. Courts can address life insurance as part of support, and some plans have their own rules. Ask a lawyer before making changes. After the divorce, review your estate plan and beneficiary designations.

Think about taxes

Your filing status depends on whether you are married on the last day of the tax year. Filing jointly or separately during a divorce has consequences, including shared responsibility on a joint return. IRS Publication 504 covers divorced and separated filers. For divorce or separation agreements signed after 2018, alimony is not deductible by the payor and is not income to the recipient.

Ask about temporary orders

Once a case is filed, either spouse can ask the court for temporary relief. A temporary order may address who pays which bills, who stays in the home, temporary alimony and child support, and limits on spending or moving assets. Under the current version of Family Court Rule 21, temporary hearings are decided mostly on affidavits and financial declarations, so preparation matters. Learn more in Temporary Hearings in South Carolina Family Court.

A short do and don’t list

For the full roadmap, start at our South Carolina Divorce Guide.

Frequently Asked Questions

Can I open my own bank account before filing for divorce?

Generally yes. Depositing your own paycheck into an individual account is common. Income earned during the marriage is still generally marital property, so keep records and do not use the account to hide marital savings.

Can I take half the money out of our joint account?

Withdrawing a large sum can be viewed as dissipation, even if you take only half. Talk with a lawyer first, keep records of what you withdraw and why, and be ready to account for it.

What if my spouse is moving money out of our accounts?

Save statements showing the transfers and talk with a lawyer promptly. After a case is filed, the court can issue temporary orders, and discovery can be used to trace where the money went.

Should I remove my spouse from my life insurance before the divorce?

Be careful. The court can require life insurance as security for support, and changes during the case may cause problems. Ask a lawyer before changing beneficiaries.

Does South Carolina split everything 50/50?

No. South Carolina uses equitable apportionment, and the court weighs the factors in S.C. Code § 20-3-620 to decide a fair division.

Sources

• S.C. Code Title 20, Chapter 3 (Divorce, alimony and property)
• South Carolina Judicial Branch: Court Rules (Family Court Rules, SCRCP, ADR Rules)
• South Carolina Judicial Branch: Forms (including SCCA 430 Financial Declaration)
• IRS Publication 504, Divorced or Separated Individuals