Protecting Your Finances From a Divorce | What You Need to Know

Protecting Your Finances From a Divorce | What You Need to Know

Divorce is complicated–legally, emotionally, and, of course, financially. For this very reason, many people who are getting divorced wonder how they can financially plan for their divorce and the months and years following. Below, our experienced California divorce attorneys have compiled a short list of actions you can take to financially plan for your divorce. They are as follows:

  • Collect various forms of financial documentation. If you are someone who is getting a divorce, you should ensure that you have various types of financial documentation on hand, going back years. For example, you should have documentation regarding both jointly and individually-owned accounts. Keeping meticulous records is critical. Oftentimes, one spouse will decide to frugally spend money held in a joint account right before the divorce is finalized. In this case, you can prove that those purchases were made while the divorce process was already underway.
  • Open your own line of credit. When getting divorced, you must close all joint accounts and get your own credit card, as this will help protect your credit from the divorce process.
  • Have a financial plan in place. Rather obviously, your financial situation will change after a divorce, as you will not have a second paycheck coming in for support. For this very reason, you should plan out exactly what your cost of living will be in the months and years following your divorce. Calculate the average cost of food, rent, bills, and other necessities long before your divorce has concluded.
  • Retain the services of a knowledgeable divorce attorney. One of the most important things anyone can do is hire an attorney with the knowledge and skill needed to efficiently assist them through the divorce process. By hiring an attorney who knows the ins and outs of divorce law, you can help ensure that the divorce process moves along as quickly as possible and that you receive as favorable a result as possible. Our firm has helped countless individuals through every step of the divorce process for years, and we are ready to do the same for you.

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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