If you are thinking about divorce it is very important that you crunch the numbers and develop a financial plan, preferably before you mention “divorce” to your husband.
With your entire life in turmoil, you may be tempted to gloss over your finances in favor of more burning emotional questions. Yet mistakes made at this crucial time could have a long lasting negative impact on your financial position for years to come. So, this week we recommend you dig out your balance sheets, check registers and calculator and use our Divorce Planning Tools to draw a clear picture of your family’s money matters.
With so much at stake, it’s important to honestly assess your assets, debts, income and expenses. Make sure that you know about all of the debt your husband may have incurred during your marriage and be realistic about what your financial situation will look like after divorce. By making sure you understand your family finances you can accurately estimate what you must do to make it on your own.
This is not legal advice. You should consult an attorney if you have legal questions that relate to your specific divorce. Technorati Tags: divorce tip thinking about divorcing financial money finances plan planning legal research state family laws getting divorced women woman law
