As many people in Phoenix and across the state know, the decision to divorce is almost always followed up by more decisions that must be made. One of the most important areas to sort out is the finances. By making a few changes right away, you can help protect yourself financially throughout the divorce process.

A recent article offered a few bits of advice for making the transition. First, split up your bank accounts. While some think that splitting up joint accounts could come across as malicious, it could save you a lot of hassle later on. Not all spouses take kindly to a divorce, so to avoid the possibility of an ex draining the account and having to endure a financial crisis, separate the accounts immediately. Taking out half of each joint account and dumping it into your own separate account is a good place to start.

Many couples not only have joint bank accounts, but they may also be covered under the same insurance policy. If a divorce turns sour, one spouse could suddenly be left without insurance. This may not seem like the most urgent change to make, but unexpected accidents happen all the time, so it's better to be safe than sorry. Make sure to get your own health, homeowners and auto insurance as soon as possible.

The next things to split up are your credit and loan accounts. In order to preserve good credit scores, collect copies of your credit reports and indicate which creditors you and your ex share. If you and your ex have maintained an amicable relationship, sit down and hash out who will take what, making sure you both have an emergency credit line.

Finally, remember to change your tax status. You will be considered single the year your divorce is finalized. In addition, you may be reporting different deductions or a new income. Make sure to take these into consideration when filing.

Source: Money Talks News, "4 Steps to Take as Soon as You Say 'I Don't'," Angela Colley, Jan. 3, 2012