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Don’t let divorce ruin your finances

On Behalf of | Aug 22, 2021 | Divorce |

If a Mississippi spouse wants to divorce, the decision may spark a series of life-changing events. When a spouse files for divorce, especially if there are children involved, important issues regarding marital property, finances, custody and other matters must be resolved. Financial issues are typically a top priority, and there are several things a concerned spouse can do to avoid money problems in a divorce.  

Make informed decisions  

It is surprising how many spouses simply leave all financial matters to their partners during marriage. While that may not cause a lot of trouble at the time, if a spouse is headed for a divorce and does not even know what his or her marital assets are, it will be difficult to protect applicable financial interests in court. Therefore, one of the most logical first steps to take to keep from going broke during divorce proceedings is to carefully review one’s financial status, assets and liabilities beforehand.  

Be aware of Mississippi property laws ahead of time 

Every state has its own property division regulations for divorce. Like most states, Mississippi operates under equitable property division guidelines, which means that the court will devise a fair division of marital property, although it will not necessarily be a 50/50 split between spouses. To avoid losing money in a divorce, it is important to have a clear understanding of state property division laws.  

There is no need to go it alone in a divorce 

One of the easiest ways to avoid financial problems in a divorce is to rely on experienced legal representation in court. An experienced family law attorney is well-versed in all aspects of property division, child custody, spousal support, child support and other finance-related issues. Requesting a meeting with an attorney before property proceedings begin is the best way to protect financial interests in court.