Do you know how to reduce your divorce legal bill?
Get a handle on your finances by organizing your information so realistic financial goals can be set. That sounds simple but it can be an overwhelming task. Lawyers agree, it is essential for their clients to be as financially aware as possible.
This can be a particularly difficult task if you were not the one responsible for the finances during your marriage.
Become more financially aware before you separate:
- Learn how your daily and monthly expenses are managed
- Determine where the money is coming from and how it is applied toward your budget
- Become familiar with your family investments such as RRSPs, TFSAs and cash investments
One of the first things you should do when contemplating a separation or divorce is to gather all your family’s financial information.
Source: Divorce Financial advice, news and information by Empowered Divorce Solutions
About the Author
Tesia Brooks CFP® MFA™ CDFA™ successfully completed the course material for “The Financial Aspects of Divorce”, passed the examinations and was awarded the CDFA™ designation in the spring of 2010. She has a professional financial background that spans 40 years, graduating as a Certified General Accountant in 1991 and being awarded the Certified Financial Planner (CFP®) designation in 1998. Tesia has experienced divorce first hand giving her personal insight and compassion for those who are going through the experience of divorce.