One of our members asked a question a while back about their finances while going through a divorce…
What Can I Do To Financially Protect Myself During Divorce?
Here’s our answer to this question about “how to protect finances in divorce“.
There is more than one way to answer this because you might be asking…
How do I survive financially during divorce?
Prior to your split you should have had “a handle” on your finances. Not understanding what you own versus what you owe is going to make your process a lot harder to live through. You’ll need to make your ex understand that during this time you need to come to an understanding to agree on the basics. If you can’t you’ll need a temporary order from a judge to determine who gets what and who pays which bills.
How do I preserve the most of my assets and least of our debt during the divorce process?
First, a financial advisor can help you with the ‘true value’ of your assets and liabilities. You may see dollar signs while the true value would be better for you if you gave that asset to your ex-spouse, while getting something that doesn’t seem as valuable but really is.
We have a lot more that you can read about “Divorce Finances” by clicking this link!