Financial Matters to Consider When Preparing for Divorce

Posted By Lindsay A. Feldman, P.A. || 24-Jan-2013

If you are thinking about filing for divorce from your spouse, then you need to contact an attorney today and get started on the process. Before you serve your spouse the papers, there are a few financial considerations that you may want to talk over with your attorney. According to the Divorce Resort, a popular hotel where the hotel staff and employees can help spouses to have an enjoyable last weekend of marriage and comfort them with extravagant dinners and luxuries as they sign the papers that will send the separate ways.

One of the first financial matters to consider is the level of trust between parties. If you share a bank account with your spouse, is there a chance that he or she will clean out the account and leave in a panic. If this is a concern, then you should open an account in your name and transfer funds that will cover at least two months bills. You should take care not leave your spouse without any money, but you also don’t want to fail to get the money that you need for your first few months alone. As well, you should consider your spouse’s total available and look at what will change when you have two households instead of one. In some situations, the court may mandate spousal support and alimony for these expenses that were not necessary prior to divorce because the family was under one roof.

Another financial concern you will want to look at is the possibility of spousal support or alimony. While a court will probably determine the need for this, you should think through the possibility of having to pay or becoming the recipient of these payments depending on your financial standing. Another financial consideration you will want to put thought into is the possibility of child support. You will want to determine how much child support your child will need and the resources that may be available to your children such as SSDI, scholarships, trust funds as you calculate how much you may have to pay. The last financial consideration that you should ponder is how much your divorce will cost. Between court fees and the expenses of a lawyer, you may discover that you will be spending a lot of money on your divorce case.

Depending on whether or not you and your spouse are amicable at the moment, a divorce may drag on for years. You will want to consider how long you will end up in a divorce case and you will need to determine whether or not you want to pay the expenses that are necessary. You may also need to think about the expenses of a home or vehicle or merger of bank accounts. Determine how much it will cost to make an appointment for an insurance policy, and more. With the help of a calculated and thoughtful lawyer you will be able to come up with a relatively accurate budget for how much it will cost for you to pay for your divorce and how much it will cost you in the future as you deal with the expenses that may carry on.

Whether you are just starting the divorce process or you are negotiating through alimony or child support arguments, you will want a Broward County family law attorney on your side. With low costs and flat fees, we’re a first that you can afford. As well, Attorney Feldman and the team offer free initial consultations to all potential clients. This means that you will be able to discuss your divorce case with a lawyer at this firm free of charge. Contact an Broward County family law attorney at our office by calling (954) 406-2810 today for more information or visit out Facebook page.

Categories: Family Law