4 Key Tips to Properly Prepare Financially for a Divorce

financial preparation for divorce

Gathering Financial Documents for Divorce

Going through a divorce can be an extremely difficult and emotional journey. In addition to the emotional challenges, there are also many financial issues that must be addressed. Proper financial preparation for divorce is essential to help individuals protect their financial stability both during the divorce process and after it is finalized.

There are several important steps individuals can take to begin their financial preparation for divorce and better protect their financial future.

  1. Gathering Financial Documents

One of the first and most important steps in financial preparation for divorce is gathering all financial documents., including tax returns, all accounts including savings, checking and investment accounts, pay stubs, property records (home, land, vehicles) credit card statements, debts, and any retirement account statements such as 401 (K plans), IRAs, or pensions.

This is important for each party to fully understand what they own as individual accounts as well as accounts held together.… View Full Article → “4 Key Tips to Properly Prepare Financially for a Divorce”

Divorced or Suddenly Single? How to Embrace Valentine’s Day!

Valentine's Day after divorce

How to Make Valentine’s Day After Divorce a Day of Renewal

Valentine’s Day can be complicated after a divorce – or even while you’re quietly considering one.

Valentine’s Day after divorce can feel complicated and emotional. While others celebrate romance, you may be navigating uncertainty, grief, or a brand-new beginning. Family law attorneys consistently report an increase in divorce inquiries after the holidays. The stress of November and December, the pressure to “hold it together” for family gatherings, and the natural reflection that comes with the New Year often lead couples to reassess their relationships. Some spouses also choose to wait until after the first of the year for financial reasons – including the ability to file taxes jointly if they were still legally married on December 31, depending on what makes sense for their specific financial situation.

By the time February arrives, emotions can still be raw. While the world celebrates roses and romance, you may be navigating uncertainty, grief, relief – or a complicated mix of all three.… View Full Article → “Divorced or Suddenly Single? How to Embrace Valentine’s Day!”