According to the Centers for Disease Control and Prevention, only about one out of every 15 marriages makes it past the 10-year mark. The other 14 couples struggle to split their lives apart. It only takes a few months for two financial lives to become so intertwined that it is extremely difficult to split the assets, which is why so many people hire divorce attorneys.
Aside from helping you navigate the legal side of divorce, your attorney can offer advice on financial matters. Below, you’ll find three quick financial tips that can help you get through your divorce.
If you are divorcing in Queens, call us to schedule a free initial consultation and determine if you could benefit from hiring an attorney. At the Elliot Green Law Offices, we are experienced in all divorce-related matters including property division, child support and alimony. To speak with an experienced Queens divorce lawyer, call us at 718-260-8668.
1. Separate Finances From Emotions During Your Divorce
Divorce is an emotional process, making it difficult to remember that it is essentially a business transaction. Fighting your spouse on every minute detail may be satisfying in the short term, but the decisions that you make now will affect your long-term quality of life and happiness.
The Huffington Post advises that the best way to keep emotions out of your divorce is to focus on the future. Decide which assets and what level of financial security you would like to take into post-divorce life, and pursue that outcome in a level-headed manner.
2. Analyze Your Lifestyle
Depending on your income and how much you rely on your spouse, you may need to reevaluate your lifestyle. A great place to start is your weekly routine. Record how often you go out to eat, wash the car and buy groceries. Based on your current routine, estimate how much you spend each week and compare that number to how much income you will have on your own.
This can help you determine what you want out of your divorce and avoid accumulating debt after signing the papers.
3. Organization Is Key
The best way to protect yourself is to gather all of your financial papers including credit card statements, mortgage records, bank account balances and tax returns. You can’t split what you don’t know about, so if you aren’t sure about some of your finances, investigate them.
These tips provide a solid foundation for handling the financial side of your divorce. However, to understand and plan for the more in-depth or specialized aspects, you’ll want to consult a divorce attorney. To schedule a free consultation today, call us at 718-260-8668.
