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Reduce the financial strain after divorce

A Financial Agreement allows you to decide how to divide joint financial resources out side the court system between yourselves, reducing your legal costs and the stresses associated with protracted litigation.

 
PRLog - May 30, 2010 - With the recession, divorce rates are expected to increase. However, divorces don’t come for free and with the recession you are probably a little strapped for cash, even if you can afford the essentials a divorce probably isn’t incorporated into your monthly budget. You’ve then got the added worry of how you’re going to manage on just one salary, even more of a worry if you have children to think of.

In order to minimise the financial strain, on both your parts, it is necessary to take a few steps to ensure that you don’t end up bankrupt. Make sure that you know what benefits you’re entitled to, especially if you’re now a single mother. If you’re going to have to pay maintenance for your children then make sure that you account for it each month so that you don’t overspend in other areas. Also, if you’re going to have to move out of your home then it would be wise to figure out what money you need to finance this, deposits for either buying or renting a new place etc.

Start doing this when you’ve made the decision to get a divorce, so that it doesn’t make such a hole in your wallet when the time comes to fork out a load of money. If you are lucky enough to remain on good terms with each other then hopefully you’ll be able to split your assets fairly, so that one doesn’t get left with useless items and the other with all the furniture/crockery etc. This way you help each other to minimise your costs after to the divorce.

For Divorce Advice from UK's Leading Expert Divorce Solicitors visit : http://www.thelawpracticeltd.co.uk/

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For Divorce Advice from UK's Leading Expert Divorce Solicitors visit : http://www.thelawpracticeltd.co.uk/

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Source:The Law Practice Ltd.
Country:United Kingdom
Industry:Family, Legal, Property
Tags:divorce, divorce advice, relationship, marriage break, legal separation
Shortcut:prlog.org/10706664
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