woman opening empty wallet

Dealing with Finances During a Divorce

By any measure, a divorce is a stressful event for everyone involved. When you add the potentially volatile issue of finances to the mix, it can become even more so. That’s why you need to take a level-headed and practical approach when dealing with finances during a divorce proceeding. You want your rights protected, and your financial stake in the union protected so that you can get your share while not being harmfully impacted by the demands of the other party.

Our team at McFadden Law Offices is ready to help when you need a divorce attorney in Westminster, MD, and we’ll begin by offering some helpful tips in this blog post.

You are going to want to look at child support and alimony right away. The state calculates these payments in the case of child support, and the court for spousal support. Make sure you factor these into your personal budget regardless if you are the recipient or the payer.

Another major issue is the division of assets. Make sure you list all the assets and get appraisals where necessary. Assets will be addressed during the settlement, along with joint debt and liabilities. You may need to consult a financial planner following a divorce to help you establish a picture of your financial profile heading into the divorce proceeding.

Pre-nuptial agreements offer protection during a divorce, but if you don’t have one, choose a dependable divorce attorney to protect your rights.