Delta, PA -- (ReleaseWire) -- 07/02/2013 -- Divorce can be a sticky wicket, loaded with contention and anger. That is why Legal-yogi.com is here to offer insight into how to plan for a divorce for men, such as:
- Get Organized
- Devise a Budget
- Plan Asset Division
- Choose a Good Lawyer
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Organize the Finances
Part of how to plan for divorce for men includes getting a man’s finances organized for life after divorce. He should make detailed, current records of his finances. He must include all of his assets and liabilities, such as mortgage statements, banks accounts, outstanding loans, and insurance policies. He should then make copies of the records and store them in a safe place. After that, he’ll want to open credit card accounts in his name only, as well as bank accounts. Just be cautious if transferring money from a joint account to the newly opened single one; avoiding conflict about money is important.
Figure Out a Budget
Begin getting ready for life after the divorce by addressing how to plan for a divorce for men. One step to take is to estimate the anticipated expenses and income. Making the budget isn’t difficult; sticking to it can be hard, but try. Concentrate on what will be necessary for one to live comfortably, and then add in child support and/or alimony fees. Many divorce specialists suggest planning for the next few years after divorce, especially if one wishes to contribute to the children’s education later on.
Carefully Divide Assets
Another aspect of how to plan for divorce for men is to be smart, not emotional, when it comes time to divide joint assets. Try to keep hold of property and investments, as they tend to appreciate over time, whereas fancy cars or leisure boats depreciate. If one chooses to leave the home in the hands of one’s former spouse, that’s fine; be sure to request one of the automobiles instead. Also, work with a financial advisor before agreeing to a settlement so taxes, resale value of the home, and mortgage pros and cons can be addressed.
Get the Best Attorney
The key to how to plan for a divorce for men is to hire an excellent lawyer. Truthfully, women tend to come out of divorce in better financial shape than men do; it doesn’t have to be like this in all cases. Ask friends who’ve gotten divorced, talk to other attorneys, and meet with divorce support group leaders to get recommendations for which lawyer to engage.
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