Protecting your Financial future after Divorce

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Protecting Your
Financial Future
After Divorce
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It is natural for divorcees who have accumulated
a lot of marital assets to get involved in heated
arguments about who gets what. This is
particularly true for high-end contested divorces
as they involve higher levels of conflict that
only an experienced Westlake Village high asset
divorce attorney is equipped to handle. It can
be difficult for some individuals to get back on
their feet but it is possible to recover from
divorce financially and emotionally. You can
secure your financial future when you hire an
experienced family law attorney in your area.

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It is essential you hire an attorney during the
early stages of your divorce. These are big
decisions that will affect your future and the
future of your loved ones, especially if there
are children involved. It is not wise about
making life-changing decisions when you are
emotionally unstable. This is not a good time to
invest or make a move that could affect your
finances. Some unwise choices such as moving out
of state, taking a lavish vacation, and going on
a shopping spree will make you feel better but
only for a while. Then you will have to face the
dramatic consequences of your bad decisions.
Making The Right Decisions

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Create a Budget
This the first and most important step to
financial freedom. You need to check how much
money is coming and how much you need to cover
all your monthly expenses. Knowing where the
money goes after a divorce is essential. Remember
you may have new expenses such as child support
and alimony that need to be included in your
budget.
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Update Your Beneficiaries

You should revise the beneficiaries in your
retirement and life insurance accounts. Remember
your divorce will not terminate your spouses
rights so you need to submit the change of
beneficiary form to the specific institution
otherwise the person listed in the account will
receive the benefits. You should also revise your
will. Meet with your divorce attorney in Westlake
Village so that your former spouse is no longer
entitled to these benefits.
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Emergency Fund

Creating an emergency fund can be very
beneficial. Remember when you were married you
relied on your spouse but now you will have to
cover your own unplanned home expenses and
medical emergencies. Emergency funds should cover
three to six months of living expenses,
especially if you are single.
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Ask Your Attorney To Review Your Divorce Documents
It is important you revise your divorce documents
even after your divorce has been finalized. Some
clients contact their attorneys months after
their divorce was finalized to resolve
outstanding items. Also, if your former spouse is
not complying with the terms in your divorce
agreement, you may need to go back to court and
reinforce the agreement.
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Contact An Attorney
Consult with a family law attorney who
specializes in this area of law and ask about
effective ways to handle your divorce. You can
avoid many financial mistakes when you seek
professional assistance. Think about your future
and call them today!
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Contact Law Offices of Stephanie L. Mahdavi A
Professional Law Corporation

• Address
• 4530 E Thousand Oaks Blvd, Suite 200
• Westlake Village, CA 91362
• Phone No
• 805-379-4550
• Website
• https//www.slmfamilylaw.com/contact/