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Women should prepare for divorce issues in advance

Monday, December 11, 2017

Divorce has the capacity to be one of the most challenging undertakings in an individual's life. However, as some Texas residents can attest, being prepared ahead of time for divorce issues is a surefire way to help smooth the road. While this is true for both genders, it is especially so for women who may wish to wait for the "best time" to approach these issues.

Organizing financial paperwork is a good place to start, since it can be time-consuming and complicated to sort out the finances of both parties, or even of just one. Many divorces focus on the division of property, assets and debts, so having an accurate picture of the state of all three, both individually and as a couple, means less legwork later on. Taking a second look at an individual's credit rating and opening new accounts in one's own name is also important during this step.

It is no secret that a divorce has the potential to be costly both emotionally and financially, so preparing one's own finances for that eventuality is a smart move. This is also the right time to build out a "divorce team" -- not just in terms of legal representation but also in terms of other forms of support, should they be needed. From financial advisors to emotional counselors, there are a number of professionals who can help smooth the transition.

Divorce issues can be frustrating and stressful, but dealing with them head-on is almost always preferred to putting them off. As some Texas residents are already aware, the more knowledge and preparedness with which one can approach a divorce can only serve to remove potential roadblocks. Ultimately, this can lead to a more expedient settlement.

Source: Forbes, "(Soon-to-be) Divorcing Women: What Are You Waiting For? Here's How To Prepare To File", Jeff Landers, June 26, 2014

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