Ending a marriage is stressful enough without having to worry about the additional financial toll it can take on your life. Although you can’t prevent certain economic changes from happening, there are ways to minimize the hardship you experience during and after your divorce. Consulting a divorce lawyer is a crucial step in protecting your rights and setting yourself up for a secure financial future. This is why the residents of Torrington, CT, turn to The Law Office and Mediation Center of Jeannine M. Talbot for advice on navigating all the legalities of divorce. Attorney Jeannine offers a few tips for managing your finances successfully.

Divorce Lawyer Suggests 3 Ways to Control Your Money During & After a Divorce

1. Take an Inventory of Your Assets & Liabilities

Be aware of what you own and what you owe so you can get a clear picture of your financial situation. Divorce lawyers recommend taking a thorough inventory of your income, living expenses, debts, and tax liabilities, as well as your marital and individual assets. This will put you in a better position to negotiate a divorce settlement that meets your needs.

2. Check Your Credit

Many people are unaware of inaccuracies plaguing their credit report, which can make it difficult to obtain a loan or new lines of credit. This can create serious challenges for someone trying to start a new life after divorce. Keep a close eye on your report so you can spot any issues right away and have them taken care of promptly.

3. Adjust Your Lifestyle to Match Your Income

Getting divorced typically comes with a lot of costs. Also, it’s likely you will see a decline in your available funds as you go from sharing income and expenses to living on your earnings alone. This means you will need to adjust your lifestyle accordingly so you can still live comfortably within your means. Develop a budget and figure out where you can easily cut back.

When it comes to finding a divorce lawyer you can count on to advocate for your best interests and ensure you receive a fair settlement, turn to The Law Office and Mediation Center of Jeannine M. Talbot. With more than two decades of experience, her family law practice can help you properly prepare for your changing financial needs in the midst of a divorce. Contact her office at (860) 482-9004 to schedule a consultation.