Getting your finances straight can make life after divorce easier

Getting your finances straight can make life after divorce easier

If you are going through the divorce process, you may feel overwhelmed by all the changes you are facing and the decisions you’re having to make. Moreover, if your divorce is particularly contentious, you may be dealing with some very strong emotions, which can be both exhausting and distracting. With so much going on, you might be trying to take everything one day at a time without focusing too much on what lays ahead.

It is understandable if your present circumstances are making it difficult to think clearly about what your life will look like once the final terms of the divorce are settled and you are on your own. The fact is, the sooner you start to prepare for life after divorce, the easier the transition will be when it finally takes place.

To this end, it is important to get your personal finances in order. Here are few things you can do that will help you get ready for your post-divorce life:

  • If you don’t already have your own bank account, open one. You want your money out of any joint accounts you share with your soon-to-be ex-spouse. In a worst case scenario, your ex could have your name taken off your joint accounts or drain their funds.
  • Get a credit report. Your ability to pay for things on credit could prove critical, especially as you try to establish your independence.
  • Gather up all of your personal financial documents and records. This includes tax returns, credit card statements and bank statements. These documents will likely be important during the divorce process.

Finally, no one should have to go through a divorce alone. You can seek the aid of therapists, financial planners and other professionals who can offer you helpful guidance. A family law attorney could be the most important member of your hand-picked team. The attorney can help you navigate through the divorce process in an effort to ensure that your new life gets off to the best start possible.

2022-04-07T18:27:46+00:0003 Jun 2016|
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