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How to financially prepare for divorce

Going through a Florida divorce is rarely easy or seamless, but there are certain steps you can take before, during and after the process that can streamline it and help you adapt in its aftermath. At the Law Office of Philip A. Schipani, we understand the many financial considerations that come into play as you prepare, file and adjust after your divorce, and we have helped many clients navigate their way through the process and achieve solutions that meet their needs.

According to Nerdwallet, it is important to note that every divorce is quite different, so the solutions that worked best for, say, your friend or neighbor, may differ broadly from those that might be best for you. However, most people can help make things easier on themselves, financially, with regard to their divorces, if they take the time to do several specific things.

First, start taking meticulous notes about your income and expenses as soon as you start to suspect a divorce may be in your future. Second, start gathering documentation relating to your income and expenses, and be as thorough as possible. Gather bank statements, credit card statements, pay stubs and so on. The more information you have at hand about your finances and needs, the more likely you will be to be able to make a clear, strong case for yourself during divorce proceedings.

You also want to watch your spending and avoid making any sudden, major changes to your financial situation when a divorce is likely imminent. Making sudden movements with regard to finances or assets may look as if you are attempting to conceal them from your spouse, and it can come back to bite you. Think twice, too, before changing any will or life insurance beneficiaries, especially if your divorce proceedings have already begun. This, too, can land you in serious hot water. More about divorce is available on our web page.

 

 

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Law Office of Philip J. Schipani
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Sarasota, FL 34236

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