How to Financially Plan for Your Nassau County Divorce
Divorce is a big step, and there’s no denying that. However, if you are ready to get divorced, you can make the process a whole lot easier on yourself if you have a comprehensive financial plan in place beforehand. By taking certain relatively simple measures, you can help ensure that you are not only mentally ready, but also financially ready for the weeks and months to come. Please continue reading and reach out to our experienced Nassau County divorce attorney to learn more about financial planning for your divorce and how our firm can help you through the process ahead. Here is a list of some of the most important factors you should consider before proceeding:
- Income: Of course, your yearly income is most likely the central aspect of your financial plan. You must determine how much you make per year, and whether you can continue to pay your bills and continue your standard of living with only that paycheck to account for. Furthermore, you should also consider that oftentimes, your yearly income will be up for equitable distribution, especially if you are the financially supporting spouse.
- Debts and mortgages: Debts and mortgages are often considered by judges who are trying to determine the outcome of your divorce. This can include loans, credit cards, and more.
- Retirement assets: Oftentimes, giving up a portion of your retirement assets is a part of divorce. Though this is not always the case, retirement assets are very often treated as marital property, thereby subjecting them to equitable distribution in a divorce. Though we cannot guarantee that this will be the case, it is always best to have an experienced attorney on your side who can fight for what is rightfully yours.
- Owned property: Though in certain cases, the financially dependent spouse will get the house in a divorce, this is not always the case, which is why if you want to keep your home in the divorce process, you must retain the services of a knowledgeable Nassau County divorce attorney.
If you have any additional questions about the divorce process ahead, please do not hesitate to reach out to our experienced Nassau County divorce attorney today. Our firm has helped countless individuals through the years, and we know we have what it takes to help you, too–all you have to do is ask.
Contact our experienced Nassau County firm
The Pollack Law Firm, P.C., rated Nassau County’s “BEST” divorce lawyers and proudly serving clients in Nassau and Suffolk County for more than 22 years, is always available to assist and represent parties in divorce, separation and all other matrimonial and family law matters. Contact us online or call today to schedule your complimentary case analysis: (516) 342-3575.