Tips for Maintaining Financial Security During a Pennsylvania Divorce

By Sheryl Rentz on June 7, 2013

There are a wide range of hurdles to overcome when pursuing a divorce. From custody battles and asset division to overcoming emotional upheaval, it can be easy to forget about the importance of maintaining financial security. Many Pennsylvania divorce financial and tax issue attorneys understand that negotiating a fair and just settlement agreement is one of the biggest steps toward ensuring a stable future after your divorce is finalized.

The following steps can help you ensure financial security throughout the divorce process:

• Use a different attorney than your spouse – You may think using one attorney will help cut down on the cost, but you will need someone who is focused solely on protecting your interests.
• Remove your name from your spouse’s debt – Before the divorce is finalized, remove your name from any joint accounts on which your spouse has accrued debt. You don’t want to be liable for debt your former spouse assumed after you have divorced, especially if your ex refuses to pay.
• Don’t agree to a termination date for spousal support – Make sure that your divorce decree requires that any changes to spousal support must be negotiated first. After your divorce, you may discover that you need to make modifications to the amount of money you receive or pay. If you sign off on a termination date, you may end up forfeiting that option.
• Don’t fight for everything if you can’t afford it – You may have won the house, vehicles, vacation spots, and other expenses, but after the divorce you might not be able to afford to keep them. Create a post-divorce budget and let certain assets go that you can live without.
• Understand your divorce decree before signing – You may want to get the process over with, but make sure you understand every aspect of what you are agreeing to with your divorce decree. Discuss any questions or doubts with your attorney until you feel confident about your settlement.

Contact The Law Offices of Sheryl R. Rentz, P.C. if you are considering a divorce to receive professional, compassionate legal representation. Our team has experience negotiating the complicated laws surrounding divorce and spousal support, and will do everything possible to help ensure that you obtain the settlement you deserve. Call us at (610) 645-0100 to discuss your options.