Divorce can be a financial disaster, so financial survival following a marital split or break-up can be difficult and requires an effective divorce strategy. While most couples usually break up or end their marriage for personal reasons, the arguments quickly escalate to alimony and division of marital and retirement assets. And the more acrimonious the divorce, the more expensive and financially debilitating the process is. So the only people who actually "win" during a

More than 50% of all U.S. marriages now end in divorce, so it makes sense to prepare financially with a divorce strategy. While divorce can be an expensive financial disaster, there are ways to help keep divorce costs under control.

These steps can help your divorce process:
Cooperate with each other. It makes no sense to fuel the discord, since the longer the divorce process, the more expensive it will be for both parties.

Use a mediator or divorce lawyer. Unless there are few assets and no children involved in the marriage, divorce lawyers or mediators should be hired during the marital split. They can help ease the divorce process for both parties and keep emotions about the divorce out of the equation.

Put everything in writing. Do not make verbal side deals during the divorce process, since this can cause confusion and escalate into another point of contention with your ex-spouse.

Change wills. A divorce automatically nullifies a will in some states. In any case, wills should be updated to reflect the divorce.

Update insurance policies. Most divorce decrees require one party or spouse to get life insurance to insure the value of child support and alimony payments after the divorce. It's important for the spouse for whom the insurance is obtained to be designated the owner or irrevocable beneficiary of the insurance policy. If they are not designated as the irrevocable beneficiary, the ex-spouse who took out the policy can stop making payments and the beneficiary would never know it. But the designated owner or irrevocable beneficiary would be notified of any outstanding issues with the insurance policy, such as non-payment of the premium, and could prevent the policy from lapsing. Divorce lawyers can be particularly helpful in working out these conditions.

Disentangled joint credit accounts. During and after the divorce, do not leave credit cards in an ex-spouse's possession. All joint credit cards should be cancelled and new ones issued in each person's name only. Otherwise, one spouse may become liable for an ex-spouse's bills.

Review retirement assets. Oftentimes, a judge will divide retirement assets and pension money down the middle. Overnight, one spouse's retirement assets could be cut in half, so when divorcing, it's important to take stock of all joint marital assets and the financial impact that will have on each party.

The divorce process does not have to be a financial disaster for either spouse, and with financial planning, preparation and cooperation, financial survival after a divorce is completely possible.