The process of divorce is complicated, confusing, and often expensive for both parties involved. Such a significant life change is made considerably more difficult when faced with the realization that finances are on the line. However, it’s important to understand that you don’t have to go broke as you close this chapter of your life.
Try To Work Peacefully With Your Spouse
Settling the division of assets out of court is ideal when it comes to protecting your finances, but understandably many divorces are difficult. If you’re lucky, you may come to an agreement to split mutual assets without having to fight for everything you wish to keep. If not, the court will ultimately decide who gets what.
Anticipate The Possibility of A Hostile Divorce
Often one spouse is angry or unwilling to engage in a negotiation without putting up a fight. Although it’s unfortunate, it doesn’t have to mean that you go broke in order to get what you want in the end. One of the first steps you should take is to open up a personal bank account and close any joint accounts so that you can begin to separate finances.
Get A Lawyer To Stand Behind You
A skilled Austin divorce lawyer can help you get organized and protect your finances through this difficult time. We encourage compiling a detailed list of all assets that you owned when you were single, as well as anything acquired during the marriage. At Benouis Law, we will explain every step of the process, help you avoid mistakes, and ensure that you enter the next chapter of your life without being forced to start from scratch.