Financial decisions are important parts of the divorce process

One of the biggest concerns an individual in California may have when it comes to getting divorced is money. Not only may a person be worried about the financial impact of property division, but also he or she may encounter new financial burdens, such as child support. A couple of tips may help people to protect themselves financially after divorce. 

After a mentally exhausting divorce, it may be tempting to shy away from making big decisions. However, it is best to proactively engage in financial planning immediately following the finalization of a divorce. Failure to take control of one's finances may lead to financial harm down the road.

Financial advisers can be immensely helpful when making money-related decisions. With their advice, even those dealing with new expenses, such as having to pay spousal support, may be able to effectively rebuild their wealth. It is also important for people who plan to sign up for new insurance or wish to change their wills' beneficiaries to be aware of the related deadlines.

The divorce process is often financially stressful, especially when the two people who are splitting up cannot agree on how to divide their assets. Proper legal guidance may help them to pursue a mutually beneficial settlement through the process of divorce mediation or negotiation. If they cannot resolve their issues on their own, a California civil court judge will have to get involved and make important financial decisions for them, although the outcome may not necessarily be pleasing to either of the parties.

Source: thestreet.com, "How To Rebuild Your Financial Health After Divorce", June 16, 2015 

No Comments

Leave a comment
Comment Information

Find out how we can help you.

Call 951.824.6449, chat with us, or request a consultation below.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Our Office Locations

Riverside Office
4094 Chestnut Street
Riverside, CA 92501

Phone: 951-824-6449
Fax: 951-715-4601
Map & Directions
Email Us

Temecula Office
28465 Old Town Front Street
Suite 321
Temecula, CA 92590

Phone: 951-824-6449
Fax: 951-715-4601
Map & Directions
Email Us