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Why financial education before divorce matters

Have you and your spouse in Florida been at odds for some time? Have you finally decided that your marriage is over? If so, this decision may find you unsure of what steps to take to prepare for your divorce. You might also be a bit afraid of how the experience will impact you financially. The best way to prepare yourself for a solid financial life after a divorce is to learn as much as you can about your financial situation before your divorce.

Spouses who have not been involved in the daily financial management of their marital household should hold off making any major agreements in their divorce settlement until they have collected information about all debts and assets. If you own a home, you should have access to your mortgage account so you know the balance due, monthly payments and interest rates. You should also assess your property taxes, insurance, maintenance and repair costs.

Copies of tax returns, bank statements, credit card and other debt statements, insurance policies and property deeds should also be collected. Make sure you have logins to all accounts. If you have a marital contract, you should review that to see what stipulations may exist about how debts or assets are split.

If you would like to learn more about how and why to get fully educated about your financial situation before you make any agreements in a divorce negotiation, please feel free to visit the marital dissolution and financial future page of our Florida family law and divorce website.

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Avvo Clients Choice | 2012 | Family Avvo Rating 10.0 | Superb | Top Attorney Family The American Society of Legal Advocates | 2014 Top 40 Under 40 The Florida Bar Certified | Marital and Family Law Super Lawyers | Philip J. Schipani | 2015-2017

Schipani and Norman, P.A.
1605 Main Street, Suite 1110
Sarasota, FL 34236

Phone: 941-549-8981
Fax: 941-366-7331
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