NY lawyers explained how people can survive divorce financially. When Americans hear about divorce, most of them are worried about their mental health.
Some of them will seek help from their friends or other psychiatrists who can assist them why they are emotionally and mentally recovering from the heartbreaking separation from their wives/husbands.
While this is true, it is also critical to ensure that you know how to recover financially if you and your spouse decide to go through a divorce.
NY Lawyers Explain How People Can Survive Divorce...Financially
Fox Business interviewed some New York Lawyers, asking them how Americans can survive divorce financially. One of them is NY state divorce lawyer Dennis Vetrano.
"I think if each person prepares themselves to be able to stand on their own feet independently of their spouse financially, there's not really as much panic or difficulty post-divorce being able to support yourself," he explained.
He added that there's nothing wrong with being reliant on each other after getting married. However, it would still be best to ensure that you can maintain enough for yourself to allow you to become financially independent in case of divorce.
Another lawyer, Lara Badain, Esq. of New York-based firm Badain & Crowder, also shared the same testament. She explained that although marriage agreements that wives and husbands need to abide by, it is different when it comes to finances.
"But here's how we want to treat our assets and income that we receive during the marriage. Mine is going to be mine, yours is going to be yours," she said.
This is why they provided the following tips on how to survive financially after divorce:
- Make sure to have all critical financial documents.
- Make your own decisions regarding your major assets.
- Check your credit reports regularly.
- Try reinventing your budget since your financial life will be different after divorce.
- Create a detailed net-worth statement.
- Mull over retirement plans.
Surviving Divorce Mentally, Emotionally
Of course, it is also important to know how to survive a divorce mentally and emotionally. Divorce Girl Smiling provided some helpful suggestions you can follow:
- Acknowledge your fear over finances, assets, and children in case of a divorce.
- Don't stop yourself from grieving; let it all out.
- After a divorce, try finding things to do that can make your mind and emotions busy.
- Make sure that your body is getting the daily exercise it needs.
- Try talking to other women/men who experienced going through a divorce.
- Don't ever look back or try to reconnect with your ex-spouse.
