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Are you prepared financially for a divorce?

What comes to mind when you think of divorce? Chances are, there are several different thoughts that come up, including child custody, alimony, and asset distribution and of course fighting and arguing. Divorce in San Antonio, and anywhere else, is certainly difficult and many times it can be an emotional roller coaster, but it’s also about the financial future of the two parties involved.

There are several things that people going through divorce need to keep in mind, especially when it comes to their finances. By taking these steps a person can help him or herself avoid some financial pitfalls. First, one should close any joint accounts, like banks accounts, credit cards accounts and any other types of credit. This can help a person avoid paying for his or her estranged spouse’s expenditures.

 

Source: ABC News, “How to protect your finances in a divorce,” A.J. Smith, Mar. 31, 2014

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