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Preparation is key for life after divorce

Ending a marriage is always difficult, no matter the circumstances. Every divorce is different, and the reasons for deciding to separate will vary from couple to couple. As with anything in life, preparation is key for those in Arizona considering divorce.

One of the most important things for newly separated individuals to do is to start familiarizing themselves with finances, women especially. Even these days, a lot women leave finances to their spouses. Those who are divorcing should start paying attention to financial documents such as tax returns, bank statements and accounts. After divorce, individuals are usually required to fill out statements of net worth, so it is helpful to make sure that accounts and assets are accounted for.

Any joint credit card accounts or other accounts shared with a spouse should also be closed. However, it is important to have access to a credit card for emergencies, so those who are newly divorced should open credit card accounts in their own name. Keeping records during this time is more important than ever. A good way to do this is to keep a journal or diary to document financial and personal events.

During marriage, the furthest thing from a couple's mind is the end of the marriage. However, statistics say about half of all couples in the United States will experience divorce. Being prepared can soften the psychological and financial impact of this event. Those in Arizona who have questions about the complicated process of divorce may want to consider consulting a legal representative. A knowledgeable attorney can provide guidance for individuals considering a separation.

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Reppucci & Roeder Attorneys at Law | 5727 N. 7th Street, Ste. 205, Phoenix, Arizona 85014 Phone: (480) 900-5538 Map & Directions
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