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Tips for Dealing with the Financial Impact of Divorce

close up of man’s hands pulling dollar bills out of a walletNothing about divorce is easy, but one of the most difficult aspects for many people is coping with the financial toll. What many don’t know is that protecting your assets and planning for a successful future starts with steps you take during the legal process. Your divorce lawyer in Tampa can help you manage and address concerns like:

Financial Obligations — Child support and alimony are two significant obligations that can come after a divorce. It’s your lawyer’s job to help you push for favorable arrangements in these areas, but legal professionals can also give you a good idea of what to expect. Planning for payments to a former spouse in advance lets you adjust successfully.

Division of Property — Wealth is about much more than income. One of the most vital parts of any divorce is the division of property, and you need a skilled legal team to ensure that you make the most of this process. Before you even speak to a mediator or lawyer, however, it’s wise to make a list of assets and valuables so that you know what matters most to you.

Pre-Divorce Options — Many spouses are blindsided by divorce, but most know when a separation is on the horizon. Don’t wait until someone files papers to start prepping for this situation. Cancel joint accounts and credit cards to prevent your spouse from incurring debt that you’ll share after splitting, but speak to a lawyer before taking money that your spouse might also be entitled to.