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Finances in divorce need not be overwhelming

Getting a divorce in Connecticut can be a difficult and emotional experience. Every aspect of one's life is about to change and probably none more than one's financial situation. The divorce rate is about 50% for the baby boomer generation, and many of them went directly from their parent's homes to marriage. Some may not have had the experience of managing a single household. There are steps that can be taken to ease the transition.

For most people, the most important step will be ensuring that there are enough funds available to cover monthly expenses. Some expenses are fixed, and some are flexible. Credit cards are the most flexible, and if one has a shared account it should be closed or changed to a separate account prior to settling the divorce.

In addition to immediate expenses, long term finances should also be taken into consideration. Insurance policies and retirement accounts should be checked for beneficiaries. Even if a will or trust is changed, that does not affect the designated beneficiary of an insurance policy or a retirement plan. If minor children are involved, a guardianship plan may need to be revised and financial plans made in the event of the custodial parent's death.

While all of this can seem overwhelming, a calm and measured approach can lead to a strong financial plan for the future. If a person in Connecticut is considering a divorce, a consultation with an attorney well-versed in family law can prove beneficial. An experienced lawyer can review one's financial picture and suggest options for a settlement that results in a fair outcome for both parties.

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We Listen, We Help, We Care

  • Hi Yuliana and Attorney Prince, Thank you so much for taking time out of your busy day to meet with me. I really appreciated how compassionate you were while listening to my situation, even through my tears. Thank you so much for sharing such valuable information with me. I left feeling very hopeful that when the dust settles, I’ll be ok.
  • Wendy helped guide us through a very difficult and emotional process and was really able to provide an even and fair account for both parties. It's quite evident in her expertise in this area but the way she was able to make you feel safe and secure in a very insecure time goes far beyond her legal prowess. If the two parties are really willing to cooperate and collaborate, she's there to help gain the best possible solution for all involved, especially if there are children.
  • Regardless of how committed one is to the fact that divorce may be imminent and necessary, it is truly one of the most emotional and stressful situations one can experience. It can also be daunting. Wendy has a remarkable ability to cut through the noise and help you focus on the big picture while drilling down on what is most pertinent to your particular situation., they are a formidable team who work collectively with your best interests in mind.
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