Blogs from February, 2019

FEAR OF FINANCIAL INSTABILITY

One of the fears that keep people in a dysfunctional marriage is that of financial instability. In order to conquer this fear, make sure to know as much as possible about your finances before you file for divorce. Take copies of the tax returns you never looked at before. Calculate your income and that of your soon-to-be former spouse. Become intimately familiar with your own personal expenses and how much you actually need in order to make your household work once the divorce is finalized. Take this time before filing to learn about the different standards of spousal and child support in your state and to compare those standards with your ongoing financial obligations.

If need be, now is the perfect time to engage an accountant, or a life insurance agent to discuss what your future needs may be. As a matter of fact, knowing these needs will make the negotiation or litigation of your divorce more focused because your attorney will be empowered with the information necessary to help you achieve your financial goals. This is just another way to turn fear into power when happily ever after fades away.