When it comes to divorce, many people in San Antonio only hear about financial disasters. Each spouse in a split-up is worried about the division of assets and how it will affect them. The truth is that there can be a positive financial change in someone’s life both during and after a divorce.
Taking the reins
The most obvious reason that divorce can improve someone’s finances is that it gives them more control. During and after a divorce, each partner has to start managing money in a way that they didn’t need to before. Without a partner, they are able to make the financial decisions that truly benefit them the most. Newly-divorced spouses must create their own budgets, make their own investments and determine their own priorities in general. Also, children of divorced parents may be eligible for more financial aid. That, too, is something of a perk.
One recent phenomenon is the rise of financial planners who help individuals during their divorces. Certified divorce financial analysts, or CDFAs, help people figure out what their financial goals are and how to reach them. That means everything from creating a budget to looking for hidden assets. CDFAs can be a very prudent investment during a divorce. They can help clients see that divorce doesn’t always equal disaster.
Even if a divorce leaves you with less money than before, it’s offering you the possibility of greater self-determination. With that money, you will be able to make the moves you think are best for your financial future. Divorce attorneys and related professionals like CDFAs are a great resource for anyone who has filed, or is thinking of filing, for divorce. They can provide answers to financial questions related to marital breakups.