Friday, April 24, 2015

Divorce Tips: Sorting Your Finances



Divorces can be an emotional rollercoaster, and that’s putting it lightly. What most people do not immediately understand, however, is that divorces can significantly strain a person’s financial situation.

Apart from the legal fees involved, many people are surprised by the overall financial implications of a divorce. Save yourself the headache of having to deal with both divorce proceedings and sorting your finances by following these quick tips:

Don’t Hide Assets

It’s tempting to hide assets, especially if you and your spouse cannot agree on how to divide property. Resist that temptation. Hiding assets or “selling” them to someone with a plan to “buy” it back after the divorce is finalized is illegal.