Law Offices of Richard K. Isles
Contact Us Now
951-643-3829

There are ways to manage finances effectively during a divorce

The process of dissolving a marriage can be a complicated and emotionally difficult undertaking. However, the same does not have to be true when it comes to managing finances during a divorce. California residents who are going through this upheaval may benefit from focusing on financial stability in the road ahead.

There are several steps one can take in order to carefully manage one's financial affairs once a divorce is initiated. One of the first steps is taking into consideration what would be beneficial to both parties. Though this may sound counterproductive, it can lead to a better outcome for both spouses. Secondly, there will be many acquaintances and friends who may try to offer advice; however, it may be best to focus on the sound advice offered by experienced professionals in order to make rational decisions. When working on a dissolution, any joint bank and credit accounts should be closed and new individual accounts opened only in one's name to preserve one's credit rating.

If one has never operated by a budget, a divorce is a good time to set one up. Keeping track of all expenses and income can help ensure that there are funds to cover both daily and long-term expenses as well as ensuring that child support and alimony payments are either sent or received on time. This may also be the ideal time to review all health and life insurance policies and update information regarding marital status and any legal name changes.

A divorce can be a traumatic time both emotionally and mentally. It can also be an opportunity to set up a new plan for managing finances and deciding on future financial goals. California residents who are preparing to embark on this path may benefit from the guidance of experienced professionals who can help them with both the personal and financial aspects of this new phase in life.

No Comments

Leave a comment
Comment Information
Email Us For a Response

Learn How We Can Help

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

g plus g plus g plus

Riverside Office
10367 Hole Avenue
Riverside, CA 92505

Phone: 951-643-3829
Riverside Family Law Office Map

Corona Office
1101 California Avenue
Suite 207
Corona, CA 92881

Phone: 951-643-3829
Corona Family Law Office Map

Temecula Office
43533 Ridge Park Drive
Suite J
Temecula, CA 92590

Phone: 951-643-3829
Temecula Family Law Office Map