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Being prepared for financial aspect of divorce is crucial

On Behalf of | Nov 29, 2018 | Divorce |

Dissolving a marriage certainly is not an easy process emotionally. However, it can be just as tough financially whether two spouses in San Antonio have been married for a few years or a few decades. Fortunately, by being proactive, those who are embarking on the road to divorce can put themselves in the best position financially once the divorce has been finalized.

One wise move that people can make before getting divorced is to become acquainted with all of their financial assets. They can do this by reviewing their prior years’ tax returns and bank statements, for example. This is particularly important for women, as some women know little about their financial situations since they rely on their husbands to handle their monetary affairs.

It may also be helpful for those who are about to get divorced to avoid changing their spending habits prior to filing divorce papers, particularly if they will be pursuing alimony. This is because the divorce court may look at a spouse’s standard of living prior to the divorce proceeding and then base his or her future alimony amount on this standard of living. In light of this, reducing one’s spending before getting divorced may actually have an adverse impact on one’s financial situation long term.

Although tackling financial matters can understandably be complicated during divorce, two spouses may make the process easier by trying to resolve these issues through mediation or direct negotiation. An attorney in San Antonio can guide a divorcing spouse through either of these processes, helping him or her to pursue a fair and comprehensive settlement. The attorney’s ultimate goal is to ensure that the client’s best interests are upheld during all stages of the divorce proceeding.