Divorce Financial Analysts: Preparing to Part Ways
Considering divorce means planning for how you will manage financially once everything is said and done. Prior to divorce, your spouse helped you in the household expenses. If you had a hard time keeping up with expenses before, you can expect to have a more challenging time up ahead.
It seems financial issues is a common cause for divorce these days, http://www.ehow.com/how_7162848_separate-finances-divorce.html. Most couples find that money becomes an issue that wedges them apart. It can be a significant challenge to bridge this kind of space. If your financial future appears to be gloomy, divorce becomes a great source of stress and misery.
The financial concerns of divorce can be eased in different ways. To achieve this, you need to have a good plan, which involves doing some research. You can also seek help from a QDRO consultants Boston divorce financial analyst and a divorce lawyer. It helps that you speak to one before you start negotiating and agreeing to any settlement surrounding your divorce. This helps a lot in protecting your finances.
Once you have decided to divorce, make it a point to cancel all your joint credit accounts. Start anew with accounts bearing only your name. Pay off joint accounts to get balances cleared. This would help a lot in keeping future credit issues at bay. Both parties continue to be legally responsible for joint accounts, regardless of the outcome of the divorce.
Before you file for divorce, open a PO Box and have your mail sent to this address. Although you do not have plans to move, it makes sense that you keep your mail separate to ensure your privacy. Having your own post office box helps in making sure that you receive all your mail. You can expect confidential financial documents to be sent to you. Having a post office box of your own will keep those prying eyes from them.
Make sure you have money on a separate savings account while you are contemplating divorce. Of course, you will most likely need to declare this account during the discovery proceeding. Nevertheless, this can be used as your backup fund while you are still contemplating divorce.
Your meeting with your divorcefinancialsolutions.net divorce counsel will require you to be ready with your complete financial records. Have copies of your up to date credit card statements, real estate deeds, bank statements, tax returns, insurance policies and loan documents ready. Make sure you are also ready with your assets and liabilities statement. You can avoid process delays and frustrations through providing complete financial information to your lawyer.
If you have any inheritance, trust fund, or non-marital property, make sure to provide documentation on these to your divorce financial analyst. Chances are, all these will remain yours and yours alone. However, you will need to prove that these are not part of your marital estate.
