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Get Back on Track Financially After Divorce

Posted by Unknown | Dec 17, 2020 | 0 Comments

get back on track financially after divorce

Drama Free Divorce, a company offering expert advice and guidance, can be trusted if you search for "ways to get back on track financially after divorce." Kansas City is proud to provide affordable financing solutions starting at $500 monthly for Missouri and Kansas residents. We take great care in offering transparent pricing without hidden surprises, and our streamlined courtroom process will alleviate much of the anxiety typically associated with court appearances.

At Drama Free Divorce, we take great pride in the compassion and empathy our legal staff shows as we understand the difficulties associated with going through a divorce. We provide not only legal advice but emotional support during this trying time.

Get back on your financial feet. In this article, we will explore some of the common causes of financial challenges following divorce and provide eight steps you can take to recover financially. Additionally, we'll cover hiring a divorce lawyer as well as how and when it should be hired as well as our firm's ability to assist on your journey towards financial recovery.


Can you still struggle financially after divorce?

Divorce can be emotionally and financially exhausting. Now it is up to you alone to manage your finances, which may feel intimidating if your spouse is the primary provider.


What are the common reasons?

  • Divest Your Assets: Splitting finances and assets may lead to disputes and financial instability, potentially creating disputes and instability for both parties involved.
  • Alimony and Child Support: Your circumstances could require child and alimony payments that could significantly eat into your budget.
  • Legal Fees: Divorce proceedings can be costly, and if they are handled incorrectly they could leave you in financial difficulty.
  • Changes In Living Arrangements: Finding and affording a new home can be costly and time-consuming.


8 Steps for Financial Recovery After Divorce

  1. Assess Your Financial Situation: Assess your financial status first by understanding your income, expenses, and debts.
  2. Draft a Budget: Draw up a realistic and appropriate budget that takes into account your new financial status after divorce. Focus on prioritizing essential expenses while decreasing any unnecessary expenditures.
  3. Establish an Emergency Fund: An emergency fund is an invaluable way of protecting yourself against unexpected costs and relieving financial strain.
  4. Rebuilding Credit: Strengthen your credit by timely payment of bills and responsible debt management.
  5. Seek Professional Advice: When creating long-term strategies, seek professional assistance.
  6. Change Legal Documents: Revamp wills, estate plans, and beneficiary designations as per new circumstances.
  7. Consider Mediation: Mediation offers an effective yet less confrontational and more cost-efficient means of settling divorce issues.
  8. Explore Support Systems: Reaching out for help can help with the emotional pitfalls that accompany financial troubles caused by divorce.


Why hiring a divorce lawyer is better than not having one?

Divorce can be an intricate process and it may be challenging to navigate without legal assistance, which is why it may be wiser to hire an attorney for legal guidance during your divorce proceedings.

  • Legal Expertise: Attorneys possess extensive knowledge about divorce laws and procedures, so they will effectively protect your rights during a divorce proceeding.
  • Mediators And Negotiators: Mediation services can facilitate negotiations and mediation processes to achieve more favorable results for all involved.
  • Paperwork and Documentation: Divorces can be complex affairs with lots of paperwork involved, but an experienced attorney can manage this efficiently for their client.
  • Objective Advice: Attorneys offer objective advice that can assist in making informed choices.


When should you consult an attorney?

As soon as possible during a divorce proceeding, it is often wise to hire an attorney. This is particularly important when:

  • Child custody and support issues are at stake.
  • Divide up your assets if they are numerous.
  • There is evidence of domestic abuse or violence.
  • Your spouse has hired a lawyer.


What are the criteria for finding a good attorney?

Selecting an attorney with care requires taking into account several key considerations. Here are a few factors you should take into account when making your choice of legal representative.

  • Experience: Choose an attorney with extensive knowledge in divorce and family law cases.
  • Reputation: Study reviews from reliable sources and seek their recommendations.
  • Communication: Be certain your attorney listens and communicates clearly with you.
  • Fees: Understanding their fees and ensuring they fit with your budget are of utmost importance.


Why Choose Drama-Free Divorce?

Our firm specializes in family law and divorce proceedings with an impressive track record for success. Our team of attorneys is committed to helping you navigate the divorce process with compassion and efficiency, providing a transparent fee structure so you are aware of the costs involved, and prioritizing communication to address any concerns or needs that may arise during this process.


Suggestions for Action

  • Assess Your Financial Situation.
  • Budget your money based on changing circumstances.
  • Prepare for unexpected expenses by setting aside an emergency fund.
  • Consult a certified financial advisor.
  • Updating your legal documents to reflect your post-divorce intentions.
  • Mediation is an economical solution to resolve disputes.
  • Reach out for emotional support through friends or therapists.
  • Consult our attorneys if you are contemplating divorce to protect your rights and understand your options.

Financial recovery after divorce can be accomplished with professional guidance and careful planning. By seeking assistance from qualified attorneys and taking proactive measures, you can successfully navigate this transition period and secure a brighter financial future. Contact us today at 816 615-5555 or send us an email on our Contact Page.

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