Easing Separation Anxiety
Sheryl R. Rentz, Pennsylvania family law attorney, wants to help move you through the difficult periods of separation and divorce as efficiently as possible. She understands the anxiety couples feel and knows that separation presents many of the same issues couples must face during divorce.
As reported in The Wall Street Journal, money may be the last thing on couples’ minds when they separate. They may even feel that dealing with finances can wait until the divorce. Whether a couple reconciles or not, a reasonable financial plan upon separation can make all the difference. Without a financial plan, the process of divorce can become nasty. If couples choose reconciliation instead, it makes it more difficult to rejoin finances.
Ruth Mantell, reporter for Washington D.C.’s MarketWatch, offers the following advice offered to ease separation anxiety and take care of financial considerations during separation:
- There may be financial advantages to delaying divorce for insurance purposes or to maintain the advantage of being able to file a joint tax return.
- While separated you are still responsible for bills on joint accounts. Spouses should perform credit checks to make sure their spouses are meeting their responsibility and continuing to pay scheduled payments.
- Separation will bring about new living expenses. Maintaining a separate residence costs money and household expenses will not be shared.
- Spell out all you can in a separation agreement. Put all you can in writing. A good written separation agreement can greatly simplify the process of divorce.
- Examine asset allocation. Separated couples may want to reach agreements on selling holdings and changing investments.
Couples who separate should know that property division will often be done in the same way during a divorce that it was handled during the separation.
At the Law Offices of Sheryl R. Rentz, we have years of experience handling family law matters such as Montgomery County, Pennsylvania equitable property division. Sheryl R. Rentz knows how important aggressive legal assistance can be when it comes to financial matters surrounding separation and divorce. If you are going through a separation or divorce, call (866) 290-9292. Our initial consultation is always free.