Many times the process of divorce can be very emotional. But, there is also a financial side, which is one that needs to be taken very seriously to ensure that assets are split fairly. Unfortunately, everything can seem rather overwhelming at first, and many people going through divorce don't even know where to start when it comes to the division of assets.

In general, with any divorce, the first thing you are going to want to do is to make sure that you have your own checking and savings account, and that things like direct deposit checks, are going into the correct account. For any joint credit cards, now is also the time to call the lender to make sure your ex-spouse can no longer put any charges on those cards.

While setting up your own accounts, also take the time to compile all documents related to assets. Of course everyone's list will look differently, but some paperwork to present could include loan and credit card records, tax records from before and after the marriage, bank account records, documents related to real estate and mortgage payments, and a record of any gifts that you received from your spouse or a third party during the marriage.

If you and your ex-spouse have children together, it is also important to make an agreement on how to pay for future college expenses. Additionally, look at what makes the most financial sense in terms of the children and health insurance. If your ex has affordable insurance, it may make the most sense for the child to stay on that plan.

Also, when creating a divorce settlement, don't just automatically fight for the family home without first crunching the numbers to see if you can realistically afford the home -- and all of the expenses that come along with it. If you can't, don't go on emotion and fight for it, as it could end up being a real financial burden.

Lastly, recognize the fact that you probably need professional legal help from an attorney during the divorce process. This attorney can help to make sure that you are making the best decisions now, and for the future.

Source: Huffington Post, "We're Getting A Divorce, Now What?" Linda Descano, Feb. 1, 2012