Many people fear divorce. They think about what limitations they will have once the divorce is finalized. Maybe they won't be able to retire as soon as they had hoped, they don't think they'll be able to travel as much as they did in the past, and that car they've dreamed of buying, well, forget about it. The truth is divorce doesn't have to leave you in financial ruins.

Careful planning during a marriage will help prepare each person if a divorce becomes inevitable. Many people realize that the longer they are with another person, the more assets they are likely to accumulate together. Most of these assets will be split during a divorce. For that reason, some people fear divorcing later in life, when their net worth tends to be higher.

Take a minute to look at the following tips to make sure you are preparing should your marriage end in divorce.

•  Maintain health insurance coverage. If you are solely covered by your spouse's insurance, make sure you have your own coverage in the event you seek a divorce.

•  Don't forget about long term care insurance. This can be crucial as you grow older, especially if your retirement funds are split in the divorce. This insurance will help pay for assisted-living and nursing homes if you are ever unable to care for yourself.

•  Review your survivors' rights to your pension.

•  Get your own credit card, or seek other ways of building your own credit history. That way you can qualify for loans without your partner, after a divorce.

These tips can help you secure your financial future should you choose to divorce. Seeking out professional help can also make sure you are getting what you are entitled to during a divorce.

Source: The Wall Street Journal, "When Divorce Unravels Your Retirement Plans," Ruthie Ackerman, Dec. 24, 2011