Managing Your Finances After a Divorce | Here’s What to Know

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There are few things more important than keeping your finances intact after a divorce. Divorce is a complex, and often costly process, which is why anyone facing one should do what they can to map out exactly what they can afford, but during and after a divorce. Please continue reading and reach out to a seasoned Los Angeles divorce attorney from Zitser Family Law Group, APC today to learn more about managing your finances after a divorce and how our legal team can help you attain an optimal financial situation.

Important Notes On Managing Your Finances After a Divorce

Some of the most useful tips for managing your finances after a divorce are as follows:

  • Take stock of what you have.  The first thing you should do after, or, preferably, before your divorce, is to take stock of what you have. This means you should calculate how much you make, how much you have saved, and more. That said, just as you should consider what you do have, you should also consider what you owe. For example, if you or your spouse are in debt, there’s a strong chance that this debt will be distributed in your divorce.
  • Consider your employment. If you’re working part-time or not at all, there’s a strong chance that once you’re divorced, you’ll have to start working full-time to support yourself. Even if you are to receive spousal support or child support after your divorce, you should still evaluate what you have, what you can afford, and determine whether you’ll need to put in some extra hours.
  • Revisit your monthly budget. Rather obviously, what you have, what you make, and what you have the potential to make will have an impact on your budget. Once your divorce has concluded, you should re-evaluate your entire budget and ensure you can afford your current lifestyle. If you need to scale certain expenditures back, do so and write down exactly what you plan on cutting from your budget. Speaking with a certified accountant can provide you with some of the clarity you need.

If you have any further questions about the divorce process or you need an attorney who can help fight for what’s rightfully yours, please don’t hesitate to reach out to our legal team today. We are here to assist you, every step of the way.

Contact our experienced Los Angeles firm

Divorce and family law issues are notoriously complicated and personal, which is why you must hire an attorney with years of experience, as well as the compassion and skill needed to handle these sensitive matters. For the qualified, dedicated legal representation you and your family deserve and need, contact Zitser Family Law Group, APC today.

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