Preparing to bring a marriage to a close is a daunting prospect for many Louisiana residents. One way to make the divorce process easier to manage is by becoming fully informed on the financial aspects of the matter. For many spouses, approaching divorce as the ultimate spring cleaning project is a great way to frame the process, especially when it comes to the financial side of divorce.
Begin by collecting current statements, deeds, investment reports and all other relevant financial information. Having everything in one place makes it easier to gain awareness of the full scope of one’s finances. Next, create a system for storing that information, so that it is accessible when the time comes to give it to a divorce attorney.
Next, spouses should make a critical assessment of their financial knowledge. The months leading up to a divorce is a great time to broaden one’s knowledge base on all things pertaining to personal finance. There are numerous resources, both online and in a traditional classroom setting. Be sure to look into community college courses, online tutorials and even books that cover financial topics.
Being informed about how to best manage personal finances is a great way to start the next phase of one’s life on a good financial footing. Many Louisiana residents feel empowered when they take their financial health into their own hands. That can lead to a strong forward momentum, which can carry a spouse through his or her divorce and beyond. This one spring cleaning project that can have lasting results.
Source: kansascity.com, “Spring cleaning your finances in divorce”, Chanel Fortier, March 22, 2017