Avoiding financial disaster after your divorce
Preparation is key to a successful post-divorce future.
There may not be any one reason why a couple is headed for divorce. Sometimes, even a perfect marriage starts to crumble due to unforeseen events. If the couple decides that it is time to bring an end to the relationship, they will be facing an entirely new experience. They may not have any idea how much their lives will be changing after their marriage ends.
Many people in the early stages of a divorce do not understand all of the steps that they must take to ensure that they protect their interests throughout the process. This is especially important when focusing on the couple’s assets. Under Georgia law, the property that the couple has acquired during the marriage must be divided equitably, that is fairly, between the spouses, and this is something that leads to many arguments between the spouses.
The couple must be sure that they make careful decisions at this time, because of the huge financial impact caused by the divorce. Once a divorce is initiated, many people will establish separate households. That means each spouse will be paying rent or a mortgage – and, they will have to incur these additional expenses while seeing a significant reduction in the amount of income they receive each month.
Those who do not realize the financial impact of the divorce could find themselves in a very poor financial position. The extra expenses could lead some individuals to have to file for bankruptcy, and this could have been prevented if they were informed about some of the options that they could have used to improve their finances in the future.
If you find yourself facing the prospect of a divorce, you need to take a few moments to prepare for what can be a very emotionally-challenging process. You need to be able to focus clearly on all of the life-changing decisions that you will be making at this time.
To help you learn more about your specific options, you should consult an experienced family law attorney. Your attorney will be able to provide you with the critical advice that you need to make informed choices throughout your case.
While you and your spouse may enjoy a cordial relationship during the divorce, issues frequently arise that can make the entire process much more difficult. You need someone on your side who can explain the situation, and stand up for your rights if the matter goes into the courtroom.
You do not want your family to suffer as a result of the poor choices you made during the divorce process. By taking the time to educate yourself and prepare for your divorce, you can ensure yourself a much easier transition once the matter has been resolved.
Keywords: divorce, family law, property division