Robert W. Davis, Jr.,
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Protecting financial interests after deciding to divorce

On Behalf of | Sep 8, 2020 | Divorce |

Making the decision to end a marriage usually initiates various financial changes for both parties. After one spouse files or the decision is made to divorce, it is important to take steps to protect financial interests. Preparing for these changes can make a significant difference for a Mississippi adult who is about to navigate the divorce process.

One of the first steps to take to prepare for a divorce is to monitor credit reports in order to make sure the other spouse is not running up credit card bills and accumulating debt. Another thing that can be helpful, when permissible, is to go ahead and close joint accounts, keeping money separate during the divorce.

A Mississippi spouse preparing for a divorce will also want to calculate how much he or she should get. The two parties will divide marital property equitably, including savings, retirement, real estate and more. It is helpful to know what the marital estate is worth before negotiating a property division settlement as this can help prevent additional disputes. Remaining respectful and cooperative during the negotiation process can allow the parties to resolve their divorce without the intervention of the court.

Protecting financial interests starts as soon as possible after deciding to divorce. Taking these steps promptly can help prevent costly and stressful disputes, as well as lay the foundation for a strong post-divorce financial future. Thinking long-term and not allowing emotions to drive decision-making can prove beneficial as well. It is helpful to have experienced guidance at every step of this process in order to ensure that the final order is fair and sustainable.


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