For many couples, divorce is a stressful life experience even if they expect this long before the start of the legal proceedings. Whatever your divorce entails, how you approach the case can affect its outcome.
The ongoing financial problems you may face following your divorce can leave you feeling daunted and uncertain. But some best practices and maplewood divorce services can help improve your experience and make the aftermath of your divorce easier to handle.
Understand the Divorce Agreement
Once your divorce has been finalized, you can feel like you have the necessary break to start a new life. But after you get the divorce order, considering the things that must be addressed to restart life without your spouse can be overwhelming. So, after your divorce, you need to review the court order’s terms with your divorce lawyer.
Your divorce order must cover all issues of your divorce including property division, child custody and support, as well as spousal support. You should abide by all the terms of the divorce if it includes long-term stipulations. But if no children are involved and you do not have long-term arrangements with your ex, you just have to review the terms of your divorce to build the next stage of your life.
If you have to give child support or spousal support and ongoing commitments to your ex, you must understand and adhere to these agreements closely. Otherwise, you can face serious penalties such as contempt of court or even criminal prosecution. Your lawyer can emphasize specific areas of concern stipulated in your divorce.
Create a New Budget
There are many ways your divorce can affect your financial situation. Missouri’s equitable distribution law entails the equitable distribution of marital property. But this can also mean you and your spouse may not get an equal share of your marital property depending on some factors. Beyond the property division resolution, it’s important to take into account any existing legal agreements with your spouse and factor this into the new budget you make.
Review Your Estate Plan
If you have an estate plan in place after the divorce, you should review it. One of your accounts may list your ex as a beneficiary and if you don’t want them to inherit your property when something happens to you, you must adjust your current estate plan. Your divorce lawyer can help you understand the divorce order’s terms and the financial concerns the dissolution imposes.