Divorce and your Finances: The First Steps to Take

//Divorce and your Finances: The First Steps to Take

Whether you have just begun discussing divorce or are in the midst of your proceedings, there are a few important steps to take to protect your finances and ensure you will land on your feet when this difficult time is over. Recovering from divorce is a difficult and long process, both emotionally and physically. Ensure you are financially stable with this advice:

Hire a Lawyer

Where divorce is discussed, the first step you should take is to hire a lawyer to work with you on your settlement. Through this difficult and emotionally trying time, a professional can help you navigate your divorce with logical goals and objectives in mind.

Review your Accounts

In most marriages, one spouse handles the majority of the finances. Especially if you are not that spouse, it is important to perform a thorough review of your bank, credit card and investment accounts. Make sure you know the state your finances are in. A review of your finances will help inform you the state that you will be in after your divorce is finalized and will allow you to properly prepare for this time.

Budget for New Arrangements

Put together a plan for the changing household arrangements that are to come. Consider new costs and begin saving for them. Transportation and moving costs should be considered, as well as those related to renting a new place and caring for your children. To properly assess your finances, consider hiring a Financial Advisor to assist you in the upcoming months.

Although it may be difficult to do, working to prepare a stable financial future for yourself and your family will make recovering from the stresses of divorce much more simple. For more information on how the experienced divorce lawyers at Hill & Hill Attorneys can help you, call us today at 1-866-369-2889.

2017-05-02T22:33:31+00:00