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Barbara L. Jouette, Attorney, P.C.
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Divorce planning can prevent unpleasant financial surprises

January brings a wave of unhappy people looking to separate from their spouses. Whether it is the stress of the holiday season or the promise of renewal in the New Year, for some reason, divorce requests peak in January in the United States, and Texas is no different. Unfortunately, a breakup can leave a person in a financial pinch, but with divorce planning, a person may be better prepared to face a new life alone. 

Many people do not have a savings account in place for basic unexpected needs, much less a separation from a partner. However, the divorce process can bring attorney fees, court costs, new housing costs and other financial needs. By planning in advance for a breakup, a person could be provided with a much-needed financial boost at a time when it is truly needed. 

Even if a person has not pre-planned for divorce with a prenuptial agreement or a savings account, there are steps one can take during the process to save some money. Simply by being organized and planning ahead for interactions with one's attorney can limit the amount of hours billed. Another possible tip is to work with a CPA or financial planner and to know the full picture of one's own finances. 

Divorce planning is planning for a reality that not many welcome, which is why it can be somewhat harder to do. Luckily, there are helpers available for when assistance is needed. In Texas, many people choose to rely on the aid of an experienced family law attorney when considering divorce. 

Source: insurancenewsnet.com, "January Splits Leave Divorced Couples in Need of Financial Planning", Brian O'Connell, Jan. 11, 2018

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