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Sowald, Sowald, Anderson, Hawley & Johnson cares about the safety of our clients and community. Most of our attorneys and staff continue to work remotely in accordance with Governor DeWine’s mandates and recommendations. We remain committed to slowing the spread of the COVID-19 virus while maintaining the quality of services for which we are known and that our clients expect. Please consider phone calls or other remote contact when scheduling your appointment with us. Stay healthy!
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Sowald Sowald Anderson Hawley & Johnson

We Can Provide Online Notary Services

Call Us At

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Sowald Sowald Anderson Hawley & Johnson

We Can Provide Online Notary Services

3 tips to prepare for the financial side of divorce

| Mar 11, 2021 | divorce |

If you are facing divorce, you may be feeling overwhelmed by financial uncertainty. From figuring out where you will live and how you will continue supporting yourself and your children to dividing large assets like real estate or investment accounts, you may find that you have more questions than answers. 

Whether you and your spouse want to pursue an uncontested divorce or you need to litigate your separation in court, the right preparation can be empowering. 

1. Get to know your finances

Your financial life post-divorce is likely to look much different than it is now. Keep in mind that you may have to pay for many things separately that you once shared with your spouse. It can be helpful to take a pragmatic look at your cash flow, including assessing your income and creating a prioritized list of current and future expenses. 

2. Avoid hurrying to make big changes

Take your time before making any big financial changes, including closing accounts, opening new ones or liquidating any assets. Staying invested may be the better choice for now, and in some cases, making major financial choices before or during divorce may be illegal. 

 3. Try to be practical about emotional assets

During divorce, it can be easy to fixate on items that are emotionally important to you, such as the family home. However, in some cases, keeping those assets may not be practical after divorce. While your emotional investments are an important part of the picture, make sure you do not lose sight of other assets that may be a better financial choice for the future.