3 Ways to Protect Your Finances During a Divorce

Financial Planning in TownsvilleGoing through the tough process of divorce takes a toll on both parties. No matter what the reason behind the falling out is, it’s understandable to feel a lot of pain, regret, anger, and other negative emotions. However, you must still push through everything and keep a clear head to be ready for everything that’s still ahead.

One of the things you need to protect is your finances. Here is advice to help you.

Be Direct With Your Lawyer

Part of getting divorced is consulting a lawyer to get legal advice you need to defend your case in court. Family lawyers in Townsville have different rates per hour of consultation, but the bottom line is you have to make each minute count. In every consultation, you must be direct and to the point so you can get more things done in less time. Focus on what is important so you can come fully prepared in court.

Get Important Financial Records

One of the most important steps you can’t set aside is gather all the important financial records you have that date back to at least five years. This includes payroll stubs, tax returns, bank statements, credit reports, investment accounts, property information, and benefits information. It’s better to entrust these to a family member or trusted friend to keep them protected. These will come in handy in court.

Read:  Reclaiming Your Freedom: The Divorce Process in Utah

Have an Asset Inventory

While in the process of gathering your financial documents, you must also begin an asset inventory. Separate the assets and properties you have before getting married to the ones you acquired while married. This also includes inheritances and gifts. Take photos of your most important valuables such as collectibles, jewelry, and antiques just to be safe.

These are just some of the things you must do to protect your finances during a divorce. This way, you can continue to be financially stable even after a stressful divorce.

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