Jamie Graham & Associates, PLLC

How to handle finances often a major question during divorce

Getting divorced is a process that is filled with often complex emotions and many difficult decisions. Some of the biggest decisions made during a divorce proceeding in Texas is how to handle the assets and finances. A couple of tips may help with making beneficial financial decisions during the dissolution of a marriage.

First, it might be helpful to contemplate whether the monetary assets slated to be received are really the best choices for one's life after divorce. For example, receiving an IRA as part of a settlement may be helpful for those approaching retirement. However, it may not necessarily be helpful for those who still have many years to contribute to their retirement funds after the divorce.

If real estate is a part of the divorce settlement, understanding what needs to be done to maintain it is paramount. After all, home maintenance can be expensive. Those who are interested in selling their real estate would benefit from being prepared for any potential tax-related consequences. If a couple decide to sell property while they are still married from a legal standpoint they might end up having to pay unexpected costs.

Getting divorced in Texas is a life-changing experience because two people are essentially disentangling their intertwined lives, financial and otherwise. In the process, they are also trying to untangle their shared emotions. An attorney can help with approaching asset division and other important divorce issues, such as child custody and spousal support, in an objective manner so that one's best interests are protected long term.

Source: mvtimes.com, "Finance 101: Divorce?", John Kageleiry, Aug. 21, 2017

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At Jamie Graham & Associates, PLLC, we have received a variety of honors and awards for our family law services. Members of our team have been listed as Top Lawyers in San Antonio Scene magazine. We take pride in the number of positive reviews we have received from satisfied clients. On AVVO, a lawyer rating website, we have received an 8.9 rating overall and many positive ratings from clients and colleagues.

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