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Protecting finances essential during divorce proceeding

The breakup of a marriage can understandably be a difficult process from both an emotional and a financial standpoint. The financial aspect of divorce can be particularly unsettling, as what happens during the divorce will have a long-term impact on the two spouses' ability to support themselves. A couple of tips might help those navigating the financial aspect of divorce in Montana.

First, those who are in abusive relationships or who feel that their spouses will try to hide or destroy valuable possessions may want to hide these items. However, this move is only a temporary one. Any assets that both parties purchased using marital assets will have to undergo valuation and be divided during their divorce proceeding.

Second, spouses who are going through divorce may be wise not to incur more debt. Instead, they may want to save the money they have on hand prior to filing for divorce. Accruing new charges on credit cards is the opposite of saving money. One of the worst things that can happen during divorce is to begin life as a single individual with a large amount of debt on credit cards.

If two spouses are able to see eye to eye on how to deal with asset division during divorce, they may be able to work toward a mutually beneficial settlement outside of court. This can be a lot less stressful than going to trial, where a judge must decide for the couple how to distribute their property, which includes dividing their debt. A divorce attorney in Montana can provide the direction needed to ensure that one's rights are protected each step of the way.

Source: goodmenproject.com, "11 Tips For Protecting YOUR Assets During Divorce", April 18,2018

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