Some Financial Do’s and Dont’s While Divorcing~2 min read

Getting divorced can be one of the hardest and scariest things that you may ever do. For this reason, you should not do it alone. A good lawyer from Springer & Lyle will help you through this difficult time, especially when it comes to dealing with your finances.

Here are some financial do’s and dont’s while you are getting divorced.

Do plan ahead. It is important that you still think about your needs during the divorce. This includes, not only how you are going to live now, but in the future. Make sure you plan for your retirement while you are going through your divorce.

Don’t forget about your health insurance. Most people have insurance through their spouse so it is important to make sure that you are protected during and after your divorce.

Do get all of your important documents together. It is important that you have all of your important documents together before you meet with a divorce lawyer. You need to have all of the information about your house, tax records, retirement funds, as well as loan information and much more.

Don’t hide paperwork just because you think you are owed something. Divorces can get ugly so there are times when people try to hide certain accounts in order to protect themselves. If you get caught, you can get into a lot of trouble so it is not worth trying to hide anything.

Do know exactly what you owe who. Many people are surprised when they get divorced because they have no idea how much debt they actually have. It is important that every debt gets put into the divorce settlement.

Don’t hold on to the house if you can’t afford to. Most people try to keep their home, no matter what. However, there are times when keeping the house will be too stressful financially. Let it go so that you can live comfortably somewhere else.

Divorce is often a trying time, both emotionally and financially. For this reason, you need to plan ahead and get all of your paperwork. Don’t hide anything or it will come out and you could get in a lot of trouble!

Contact us here at Springer & Lyle for all of your legal needs.