Managing your finances during a divorce

Usually, deciding to file for divorce is an emotional experience. However, while the heart may fuel the decision-making process, it is important that the brain ensures that the decision will be a wise financial move. Before filing for a Florida divorce, it is important that you carefully consider all of the financial implications. That will allow you to employ a lucrative strategy to safeguard your future.

Keep in mind that it's possible to thrive financially after a divorce. Those who do usually conducted sufficient research into the divorce process before taking that big leap. Below are some tips for financial planning before filing a divorce petition here in Florida.

Keep some things private

While you may want to get emotions off your chest, it is important to keep the specifics of your financial planning during a divorce private. It is somewhat risky to divulge your financial strategies to mutual friends of your soon-to-be ex-spouse, as these individuals may reveal these details to him or her. Keeping your plans private will also prevent arguments from arising between you and your former spouse.

Choose your advisors carefully

When you announce that you have decided to file for divorce, it is likely that you will start to get advice from everyone you know who has ever been through a divorce. While anecdotal advice can be helpful at times, it is always best to stick to professional advice before making any important decisions regarding your divorce.

Separate your finances

If you are planning to file for a divorce but your spouse does not yet know of your intentions, it may be a good idea to start separating your funds. You may want to set up your own personal checking and savings accounts. Then, you can close joint accounts when you file the divorce petition.

Remember, too, that it's never too early to start thinking about your finances, even if you have not yet fully committed to the decision to end your marriage. Divorce doesn't have to be a stressful event that's rife with recriminations. A little advance planning can streamline the process and allow you to end the marriage with your dignity and finances intact.

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Beverly L . Brennan A PARTNER AT MCLAUGHLIN & STERN, LLP - NAPLES, FLORIDA ATTORNEY & COUNSELOR AT LAW

Beverly L. Brennan, P.A.
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Suite 602
Naples, FL 34103

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