Getting Your Finances In Order Before You Split

 Posted on June 13, 2013 in Divorce

The emotional toll of a divorce is not lost on anyone, and it’s no secret that anyone who’s gone through or is going through a divorce is likely to experience some financial setbacks. The trick to maintaining your finances throughout a divorce is to do some serious planning beforehand, sometimes even before you bring up the idea of divorce with your spouse. The first obvious cost to a divorce is the hiring of a qualified divorce attorney—which each spouse will need to do. “Nonetheless,” according to US News and World Report, “people can save a lot on legal fees if the case requires less ‘discovery’ work—meaning clients gather the necessary financial documents on their own time, rather than leaving it to their attorney.” This, of course, means knowing which documents are necessary to search for, and where to look if you’re unsure. One major way to save on the financial burden of divorce is to attempt to find a middle grounds with your ex and “consider aiming for an uncontested divorce,” according to US News and World Report. This means providing mandatory disclosures, which “require both parties to produce a large number of financial documents.” A divorce attorney can help you to determine which of these documents you’ll need, and may be able to help you obtain them if necessary. The financial documents you’ll need for a divorce are not few in number, and the search for them can “prove overwhelming… especially if you are a stranger to your financial situation,” according to US News and World Report. This can sometimes affect women more often than men, which means that a woman going through a divorce will need to be even more financially aware, especially if she was not the primary earner. To begin the arduous process of organizing your financials during a divorce, the most important first task is to hire a qualified family law attorney. If you or someone you know is considering divorce, don’t go through it alone. Contact a dedicated DuPage County divorce lawyer today.

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