After years of marriage, blissful or otherwise, you have finally come to a turning point where you can no longer see yourself spending another day with the person you married. After days and nights of contemplation, you concluded that divorce is the only way to find the happiness you have lost.
Divorce entails a lot of things, and emotions definitely take the center stage. But there’s another point of interest that is inevitable in every separation: money. Many divorcing couples fall into the financial pitfalls of divorce merely because of lack of knowledge and readiness. Get the help you need to get through this difficult time.
Short On Cash
With divorce comes unavoidable expenses that can drain your financial resources. Do not let your cash run out as you go through the divorce proceedings. Your expenses may increase, even double, as you go from a double-income to a single-income household.
Lack of Records
The court only recognizes a statement to be potentially true when supported by evidence and documents. To save money and time, gather all necessary papers, including bank statements, deeds to real property, insurance policies and other financial documents, before filing for divorce.
Not Separating Emotions and Money
When it comes to the division and management of your finances, there’s one key for you to not lose control: never let your emotions dictate your decisions. Treat divorce as if it is a business in which you can’t lose more than what you can afford. Don’t let anger and the desire for revenge make the divorce settlement more overwhelming than it already is.
To guide you through the process and avoid getting financially hurt, talk to your Virginia Beach divorce attorney and financial adviser.
McCormick Divorce & Family Law 