Melinda Weerts PLLC - Family Law
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Keeping control of your finances before and during divorce is key

| Jan 19, 2020 | Uncategorized |

Divorce is going to bring significant financial changes to your life. You know that you will have to make certain spending and lifestyle adjustments, and there are certain things you can do now to prepare for what is ahead. One of these things is to go ahead and take control of your finances.

By taking control now, you will be able to avoid some of the stress and complications that come with a divorce. You can bounce back and recover some of your lost financial standing, but it is in your interests to start thinking through how to do that now. This is especially important for you if you did not have to a direct hands-on role with your finances during your marriage.

Start getting involved now

Whether you plan to divorce in the near future or you have already started that process, start taking steps to regain or maintain control. Familiarize yourself with the finances of your household, monthly expenses, financial holdings and other things that could be important when you are on your own.

Another thing that could prove to be helpful for you is to also become familiar with your accounts related to investments and retirement. Anything accumulated over the course of a marriage is eligible for division between the two spouses, including these types of savings. When you know about these assets, you will better able to pursue a fair property division order.

Start talking about it now

In addition to familiarizing yourself with your finances, you will also find it helpful to speak with your spouse and others about money. In doing this, you may uncover things you did not know about, such as hidden assets, debt and other things that could be an unpleasant surprise for you down the road. This is useful in all marriages, but especially for those where spouses have been married a long time.

Start fighting for your future now

Your financial future is at stake in a divorce. It is crucial to secure terms that allow you to have stability and security long-term, and this means taking steps to prepare, no matter how far off divorce may be in your future.

You do not have to walk through this complex and high-stakes process alone. By reaching out for the support of an experienced North Dakota divorce attorney, you will have the guidance necessary to make choices that will allow you to look to your future with confidence.

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