Helping Minnesota Families Through Difficult Times

Planning for Your Financial Future in Your Divorce

DIVORCE ATTORNEY SERVING THE TWIN CITIES

Divorce is one of the most stressful and difficult events to happen in a person's life. It is also, unfortunately, a time when major decisions that will affect the rest of your life must be made. Banas Family Law, P.A. will advocate on your behalf in order to create a marital agreement that addresses the division of marital property and debt in your best interests.

A divorce is not only emotionally draining, but can be financially unsettling. You need to be sure your financial and credit-worthiness does not suffer. In order to preserve your credit during a divorce, we will work with you to ensure that your future is not at risk.

It is important to have a complete financial picture of your joint accounts. Get your credit score so you can see where you stand. This will also list your joint debts. It is in your best interest to contact those companies and get a total balance due so that you know where you stand.

By having a complete financial picture, you are in a better position to move forward. Banas Family Law, P.A. is able to review the entirety of your assets and debts in order to gain a comprehensive understanding of your situation.

Your divorce decree should state who is responsible for any joint debt incurred during the marriage that has not been discharged with joint assets. Credit card companies are not bound by the divorce decree-that means that accounts held jointly continue to be the responsibility of both parties after the divorce. St. Paul divorce attorney Chris Banas will work with you to secure the best debt resolution.

In order to being to move forward financially after your divorce, you should begin taking into account your expenses. Not only do you need to know your living expenses, but be sure to include things such as health insurance and the division of retirement assets. By having a realistic understanding of your situation, you will be able to begin the next phase of your life with your finances under control.

Categories: Divorce

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