04 Dec Women Can Protect Financial Interests During High Asset DivorcePosted in High Asset Divorce
Although it is a difficult process to navigate, divorce does not have to result in financial instability. The end of a marriage is tumultuous, but with a financial game plan and experienced assistance, it is possible to safely weather the financial impact of a high asset divorce. A woman’s future stability depends on the decisions made during the divorce, so it is important to carefully consider every step.
When there are considerable assets at stake, property division can become a highly contentious process. Illinois readers facing divorce should make copies of all financial records and take careful account of marital assets and property. Women have a rightful claim to a share of marital property, but should also note that spouses are equally responsible for any debt.
It is also prudent to close joint accounts and begin to manage financial affairs independently. This step allows an individual to have a realistic picture of his or her financial capabilities, supporting a possible claim to spousal support. Women navigating divorce may feel overwhelmed by the process ahead, but taking simple steps, such as creating a budget, can be a way to both protect their interests and empower them to move forward.
Illinois women already involved in the process of a divorce or considering ending a marriage face a long, potentially complex process. A woman has the right to seek both peace of mind and a stable future after a high asset divorce, and the first step is to seek the assistance of an experienced legal team. Through a case evaluation, a person can understand the steps needed to protect financial interests.
Source: The Huffington Post, “7 Financial Tips for Women Facing Divorce“, Jennifer Leighton, Dec. 1, 2015