Your financial future may not be something you have had time to worry about. With the children, the house, the emotions involved in divorce, it's often easy to forget to plan for the future. Much of the energy of divorce focuses on the present. In many cases, you probably feel like you are surviving one day to the next. Although this is understandable, it can have devastating consequences on your finances, maybe even bringing about the loss of property and bankruptcy.
Protect your finances. As financial guru Jeff Landers from says, "The emotional upheaval of a divorce can make you want to bury your head in your pillow... for years. There's no question, divorce is a time of great anxiety; psychologists consider it the second most stressful event in a lifetime, lower only than the death of a spouse. If your emotions are running in overdrive, you're normal.
And yet this is your moment. Financially, this is your opportunity to provide for the rest of your life. When it's over, you can't go back for a do-over. While it can be tempting on so many days to just give up and sign on the dotted line, don't. You owe it to yourself and those who depend on you."
Consider where you are in the process of divorce, where you want to be financially and tailor your finances for that need. Landers advises, if you can, to hire a financial planner. Check your credit score. Open accounts in your name. Be watchful of your spouse. Invest in therapy so you aren't tempted to talk to your lawyer about your problems thus influencing hourly attorney rates.
Protect yourself and your future. Read the full article below for more information from Forbes' contributor Jeff Landers of Bedrock Divorce.
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