California is seeing an increase in the people who are filing for divorce in 2021. As the year winds to a close, more people are thinking about starting off 2022 in a better place.
Divorce seldom comes out of the blue, and if you think that this might be something that may be in your future, you should take some time to make sure you are ready for the changes you are about to experience. Here are three things that you can do to prepare for life after divorce.
Review your financial situation
You need to know your assets and debts, as well as what your financial situation will look like after the divorce. So many people try to continue the lifestyle they had before divorce, not realizing that they will be going from two incomes to one. This is a major change, and you have to be sure that you know what you will need to support yourself financially going forward.
Limit access to shared accounts
Many married couples share bank accounts and credit cards. If these accounts are still accessible after a divorce is pursued, one spouse could run up significant debts or withdraw all of the money and leave the other in a very difficult financial spot. Knowing the accounts you have, as well as who has access to those funds, is extremely important for people going into a divorce.
Get legal advice
This is perhaps the most important step to take, especially if you have kids or significant assets. You need to be sure that the decisions you are making about your case will not cause you easily avoidable challenges in the future.
An attorney can carefully review your specific situation, and help you make the right decisions during your divorce. You often only get once chance to make these choices, and doing the wrong thing at the wrong time can leave you trapped without any opportunity make any changes.