Southern California Family Law Attorney Blog

Nobody wants to think about the likelihood of a divorce on their big day, but the fact is that a sobering 40%-50% of marriages in the United States end up in divorce court. While the emotional scars from divorce are hard to escape, the financial scars are not. You can help yourself (and your divorce attorney) avoid them by following the four tips listed below.

First and foremost, know what you have. Assets acquired during a marriage get divided according to state laws regulating property splits. The assets that you do not know about could very well end up being the assets that you do not get a part of if they are not listed in your divorce settlement.

Second, keep good records. Account statements, tax records, pay stubs, life insurance information and receipts for large purchases are just some of the information your attorney needs in order to negotiate the best property settlement for you. What your attorney does not know can hurt you.

Third, know what you owe. Debt incurred during a marriage is a joint responsibility. If your former spouse defaults on credit card or loan payments, and your settlement does not protect you, you could end up holding the bag.

Fourth, and finally, do not wait until your court appearance to decide how you want your personal possessions divided. Court is not the place to argue about who gets the grand piano or the AKC registered French Bulldog. Make decisions about who gets what, if at all possible, while you and your partner are still speaking.

Divorce is hard, but financial pitfalls incurred by a lack of financial knowledge make it even worse. For more information on working out the best financial options for you in your time of need, contact the Law Offices Of Sherrie L. Davidson, Inc.