Tips for Divorce financial planning

Tips for Divorce financial planning

By Julianne Fitzgerald
On 25 Jan, 2016

    With Valentine’s Day arriving in the coming weeks, love is in the air! With new relationships blossoming, couples getting engaged and others getting married sometimes it can be difficult to see the dark side of relationships. To lessen your worries, one should always consider divorce financial planning. Although the United States divorce rate is now well below 50%, whereas 2 years ago, was about 52% there are still concerns of impending divorce and it is important to protect yourself and your assets.

    Divorce financial planning just consists of a few steps to ensure more financial protection during a Florida divorce process. It is important to keep in mind to separate your non-marital assets including property that has been inherited, gifts to the individual, and proceeds from an personal injury proceeding. It is also of vital importance to divorce financial planning to have your own credit history in preparation for divorce, this can assist in the process of obtaining a new place of residence or a new mode of transportation. You can build your own credit history by obtaining a credit card under your name or add your name to household accounts. Keep in to keep track of your financial records and be smart about spending and try to be conservative, in divorce proceedings these records can be considered evidence.

    Like most important life-changing decisions timing is everything, consider monetary issues involving Social Security benefits. If you know divorce is inevitable, a wise strategic move is to close joint accounts that way your spouse cannot spend funds you need without your knowledge. The final step to divorce financial planning is to hire a lawyer that can assist you through all the proceedings and ensure that your rights are protected. Discussing and going through divorce financial planning with your attorney can help you avoid errors and ensure the best possible outcome for you.

    If you have any question or would like to know more information about divorce in Florida, please contact Gallardo Law Firm. The process of divorce can be quite complex so hiring a divorce attorney can be very useful to the Florida divorce process.