Divorce

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Division of Assets in a Divorce Proceeding

January 13, 2016 // 2 Comments

The decision to call it quits in your marriage may be hard, but despite that, there are many things you need to discuss with your soon-to-be former husband. In a divorce




Of all the milestones we women encounter in life, a divorce may be the most unexpected and traumatic. It can wreak havoc with women’s financial plans and emotions. The New Savvy tells you how to approach the possibility of divorce, deal with the actual issue and come to terms with a new life in the aftermath. Here is a wealth of divorce advice about deciding whether to divorce, understanding the financial implications, managing legal proceedings, seeking counselling or mediation support and dealing with child custody decisions and emotional fallout.

A woman’s current lifestyle and financial standing will be impacted from all sides in the event of divorce. So it is well worth your while to dip into this marriage separation and divorce advice even if you’re in a dream marriage made in heaven. Keep The New Savvy’s tips in the back of your mind to shape a watertight budget that would see you through an utterly unexpected proceeding. Think about your network, too: one never knows when an emotionally fraught friend may need practical support on how the process and outcome of divorce affect her finances.

Legal counsel, child custody and child support, management of joint assets, court appearances, property division, pre- or post-divorce therapy and alimony/spousal maintenance decisions all come with a price, often for both husband and wife. Many women hire their first financial planner when undergoing divorce proceedings. Some even contract with a private investigator if evidence is required to prove infidelity, for example.

This guide will point you in the right direction to find professional support of all kinds. It will also enable you to hold a productive discussion. There are so many right questions to ask of attorneys, financial planners, banks, mortgage lenders and detectives. There will also be a timeline associated with an impending legal marriage separation, no matter if it’s a divorce or an annulment. Understanding the stages of a divorce proceeding under local laws is essential to creating a plan of action and a realistic budget.

A divorce will signify a new financial beginning for most women, but this does not have to mean a woman’s financial demise. However, it is crucial to stay focused and to take rational decisions during a time when a decision to end a marriage can make women vulnerable to overriding emotions.

The New Savvy’s marriage separation and divorce advice will help women keep the level head they need if heading into the choppy seas of separation. It features practical 1-2-3 checklists that can focus, empower and motivate women to stand up for their rights. We will help you be prepared, be knowledgeable in your decision-making and protect your assets.