Financial Planning
Divorce
What is your plan?
At this point in time, if you have not got a sound financial plan before the divorce, it is a must for you to have one during the divorce. I wish that you did not start or caught up in a divorce proceeding without a sound financial plan. If you do not have a sound financial plan during divorce, you will be constantly facing fear and uncertainty as you do not know how much you might lose, your damages, or even what you will be getting.
What's your share?
Prior to or during a divorce proceeding, you will need to know what do you own and how much are your assets worth. Then you will need to move on and answer the same queries for your spouse's assets. The problem will usually appear because not all married couples are transparent with their assets, including investments. So if you are concerned about this, speak with our lawyer to sort this out for you.
After knowing what you have, or your spouse has, then it is important for you to know how much your share of assets are really worth, including the expectation of what you will be getting from or losing to your spouse.
Your Plan During Divorce
I have seen many wives and children who have not receive any maintenance during divorce and that usually put them is a very bad situation and shape especially. A sound family financial plan done before or during the marriage would definitely save them from this mishaps. However, if there is none, then it is important for your divorce lawyer to ensure that the wives and children are able to be maintained during the divorce.
As for men, it is very crucial for financial planning to be done during divorce because you would need to know how much you can afford, especially in the long run. Then you would be able to see what are the terms to negotiate and what deals you will be getting because financial obligation in the Divorce Order is so heavy that any form of breaches may lead to unwanted circumstances such as imprisonment, bankruptcy etc.
Never undergo divorce without a sound financial plan. Speak with our divorce lawyer to sort it out for you.
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Your Divorce Plan Affects your Life-After Divorce
Most of the relationship between spouses and financial obligations do not end after divorce. Hence it will be bad to negotiate, settle or even to start a divorce proceeding without any financial knowledge or plan after divorce.
For women, it is very often that without proper consideration, the maintenance turns out to be insufficient. The matter is usually worse when she needs to take care of very young children and cannot afford a full-time job.
As for men, they tend to over promise and overpay the wife and child maintenances or lose out on assets either thinking to end the case easily or without proper planning and protection. Hence leaving them in a far worse situation than they could ever imagine.
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