When preparing for a divorce, the best divorce advice that every spouse should consider is to look at his or her finances ahead of time and take stock of their financial situation.

Many of the decisions that will be made once working with a divorce law firm will revolve around money, so preparing for these steps can save time.

It can also alert a spouse to issues that they might not be aware of and might need their divorce attorney’s help with, such as hidden assets or how to best distribute certain assets.

Getting the money right so there is an accurate picture of all finances helps a spouse go through the divorce process with confidence.

What Is Financial IQ?

Before entering the negotiation period of a divorce, it is important for spouses to know their financial IQ and where they stand financially at the current moment.

Divorce advisors recommend going through all financial assets to assess everything from salaries and bank accounts to investments and debt in order to understand what assets there are that must be divided and how the divorce will affect the finances of both spouses afterward.

It is always best to step into the divorce process with an understanding of one’s financial situation so that divorce attorneys can offer pertinent and accurate advice based on that situation.

Identify Problems That Require Attention

When researching their financial situations, spouses working with divorce law firms sometimes find that they either do not have access to all the documents and accounts that they should or that there is evidence that their spouse might be hiding assets from them.

Resolving these issues by investing time into investigating them so a true understanding of finances can be made and divorce negotiations can be done with accurate information is essential.

Watch This Help Video!

This short video by Board-Certified Divorce Attorney Greg Housewirth involves the importance of understanding one’s financial IQ and how ironing out the financial situation before getting into heavy negotiations will benefit the whole process.

Get The Money Right Before Divorce Negotiations

The only way for the clients of divorce law firms to succeed in a fair process is for them to be informed ;and aware.

At the top of that list should be awareness of their financial situation, as this will in part dictate how they move forward through the divorce process.

An experienced attorney who can give divorce advice on assessing financial IQ and resolving issues related to figuring out the money part of the process early in the negotiations is essential to a spouse’s success.

Getting the money right starts with finding a trustworthy attorney to hire.

Schreier & Housewirth Family Law

1800 West Bowie Street, Suite 200-E
Fort Worth TX 76110

817-587-8095

 

Gregory L. Housewirth is a Board-Certified Family Law Specialist practicing in Fort Worth Texas. With 30 years of family law experience, Mr. Housewirth has represented hundreds of clients in divorce, custody, CPS, modification, and grandparent cases. In addition, Mr. Housewirth is a qualified family law mediator and a member of Collaborative Law Texas, a practice group dedicated to promoting collaborative divorce in Texas.

 

 

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