Monday, February 1, 2010

KEEPING YOUR FINANCIAL PLAN ON TRACK BEFORE, DURING OR AFTER A DIVORCE

Few events create as much emotional and financial stress as a divorce. On the emotional side of the equation, it’s natural to experience sadness, anger, worry, embarrassment, and even relief. On the financial side, you may wonder, how will a divorce impact my finances? Will I need to change my lifestyle? What steps do I need to take to update my financial plan? If you’re going through a divorce, it can be difficult to fully understand how your life may change after divorce. Having support for your emotional needs, as well as trusted advisors for your legal and financial needs, can make a big difference. Here are some practical tips for keeping your life - and your finances - on track before, during and after a divorce.

Step One: Build a Support Network
If you’re considering a divorce, it’s a good idea to build a support network, both for expressing your emotions and thinking through the legal and financial consequences that divorce may entail. “In my experience, when people don't get information and support through the divorce process, they tend to experience much greater fears and feelings of being overwhelmed,” says Susan Pease, director of the Transition Institute of Marin, which offers education, resources and coaching for women and men who may be considering or going through a divorce. “My advice would be to seek out some type of support, which could include one-on-one therapy or a group of people who are also going through divorce. By doing so, you will have a place to vent your fears and feelings, get reality checks and hear what others are experiencing.”

Written by Bruce Raabe, Managing Partner, Collins and Company

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For more information, contact the Family Law Offices of Renee M. Marcelle at (415) 456-4444, or online at http://www.familylawmarin.com/




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