Hiring financial experts in a divorce

| Jul 14, 2020 | divorce

It is not possible to anticipate all of the financial effects of a Florida divorce. However, preparing for the divorce financially can help someone recover quicker and adjust to their life after the divorce. An individual must begin properly when the prospect of divorce becomes a reality.

The first major aspect of preparation involves getting a general sense of where one stands financially. A person should know this before they begin to negotiate property division. They should know what their assets and debts are in the marital estate. They should also run a credit report and take proactive steps such as closing joint accounts. Then, the individual should gather all of the necessary documents so that they can give them to their attorney at the first meeting. This includes things such as pay stubs, account statements and documentation of debts. It is vital to know all of the couple’s assets in case the other spouse acts deceptively.

A person may also seek to hire legal and financial experts to help throughout the divorce. If they have the means, a special divorce financial adviser can help them plan for their post-divorce reality. In addition, an individual can consult with divorce coaches and spiritual counsel to help them keep an even keel as they seek to negotiate a settlement and begin a new life.

Contacting a family law attorney may be a helpful place to start when the process is just beginning. The attorney may tell their client where to start as individuals may be confused about what to do in the situation. This might empower the client to handle what is a very rough situation. The attorney may also be able to recommend what other financial help that their client needs to get them headed in the right direction.