The Law Firm of Yolanda V. Torres, APLC

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Considering a divorce? Secure your financial future

When we say "I do", the thought that we may one day say "I can't do this any longer" may seem unimaginable. Yet the possibility of divorce is an unfortunate reality for countless couples and when this possibility becomes a reality, we may not consider the need to protect ourselves and our financial future. Regardless if we are anticipating a divorce on amicable terms, or one that is likely to involve a certain degree of conflict, the thought of our financial security needs to be at the forefront. 

Some couples may have gradually acquired property, or other assets, during the course of their marriage, while others may be under the impression that they have little that is of financial vale and thus little to "fight" over. Establishing a financially secure future after a divorce, however, is not always dependent on assets.

Even if it appears that there is no established wealth as a potential source of disagreements there are important financial aspects to consider. Most married couples incur debts such as credit cards, a mortgage, car payments, or even medical bills, and it is important to establish who should be responsible for the debt. Many couples also share checking or savings accounts, and they may be joint beneficiaries on life insurance policies or retirement accounts.

Few couples enter a divorce with the anticipation that their divorce will lead to conflicts and disagreements which could last for months, or years, without an agreeable resolution. For this reason, it is important that any financial aspect of the marriage be addressed early on in the process. This may include the dissolution of a joint checking account, the sale of property or assets, the removal of a spouse from a life insurance policy, and so much more.

The possibility of a divorce is generally daunting and the process is overwhelming, even under the best circumstances. The first step in this process should, therefore, include a consultation with an attorney who is familiar with the financial aspects of divorce proceedings. Your attorney will assist you in the assessment of financial assets and debts, encourage you to explore any financial aspects of the marriage which could possibly result in conflict or disagreements, and become your ally in the need to secure your financial future. So, if you are thinking of a divorce, consider contacting an attorney as soon as possible, no matter what the circumstances of your divorce may be. 

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Yolanda V. Torres

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The Law Firm of Yolanda V. Torres, APLC
601 N. Parkcenter Drive
Santa Ana, CA 92705
Phone: (714) 541-5400
Fax: (714) 242-7416
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The Law Firm of Yolanda V. Torres, APLC
7755 Center Avenue
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Huntington Beach, CA 92647
Phone: (714) 541-5400
Fax: (714) 242-7416
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