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Financial Divorce Planning
Joint finances may not be top-of-mind when going through a life-changing event but at some point, they will need to be addressed. We can help with support and guidance.
Checklist
It’s not unusual to avoid certain topics during an emotionally-charged time such as a divorce but avoidance could end up being very costly, especially when there are attorneys and court fees involved. Consider these aspects when consciously uncoupling your joint financial life:
Try to have calm, unemotional discussions about finances. It may not be easy but can have a huge positive effect.
Along with your legal counsel, we can help with a number of financial items including new checking and savings accounts, new or reassigned mortgages, home equity loans and retirement savings plans.
Prepare for what comes next
It may seem cliché but by taking post-divorce life one step at a time, before you know it, you’re on a whole new journey. Consider these action items to better prepare yourself for what comes next:
Plan a short- and long-term budget. (Be sure to account for things like alimony, child support, emergencies, etc.)
Consider any potential tax implications
Update the appropriate information on all your accounts and other legal documents
Set realistic long-term goals that can focus your energy on positive growth but don’t deny yourself some dreams – give yourself the gift of “why not?”
All loans and lines of credit are subject to credit approval.
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