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Dealing with Major Financial Problems While Simultaneously Going Through a Divorce

Posted by April Picozzi | May 13, 2021 | 0 Comments

Going through a divorce is already one of the most difficult experiences anyone can endure, and piling financial problems on top of that can be devastating — but it doesn't have to be. With the right support and careful planning, you can survive this trying time and even come out the other end of it in a solid financial position.

Accomplishing those goals will require focusing on the most important aspects of your economic well-being and taking some action, including the following:

  • Keep communication going with your soon-to-be-ex. Chances are good that you have a lot of shared financial burden even if it doesn't seem that way, so while it's important to begin creating your own financial path, it's not quite time to cut ties altogether with your ex financially just yet.
  • Determine shared assets. Figuring out which assets are jointly owned, which can be divided, and which can be sold may greatly help to ease your current financial burden.
  • Determine common bills. Before you concern yourself with making sure all the bills are paid on time, make sure you know how much of the bills you are responsible for paying.
  • Create a financial plan. Once you know what you owe, you can better devise a plan to get you where you want to go financially.

In most divorce situations, an experienced attorney would be extremely helpful in sorting out all of the above. From divvying up assets and bills to advising on whether filing for bankruptcy either jointly or on your own looks like it could be an avenue to pursue, the advice of a lawyer during this stage of the process can be invaluable to ensuring your financial well-being now as well as later.

Through all of this, remember to also keep tabs on your mental health. The emotional and psychological effects of divorce are well documented, and these hold true even if your split is amicable. Be kind to yourself during this difficult time, and make sure you're caring for yourself as you maneuver through choppy financial waters.

Let us help you as you plan your financial future during and beyond your divorce. Contact Inman & Tourgee online

About the Author

April Picozzi

PUBLIC ADJUSTER / OPERATIONS & FINANCE MANAGER April M. Picozzi joined the firm in 2013 as a licensed Public Adjuster and legal assistant to Mark D. Tourgee, Esq. She handles all aspects of personal injury claims including client intake, maintaining client files, negotiating settlements and assi...

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