How can women prepare financially for divorce?

How can women prepare financially for divorce?

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If you are a woman in Colorado considering or going through a divorce, there are many things that you must contemplate, including whether you can stay in your home or must relocate. When there are children involved, custody and support agreements need to be negotiated. And whether you have a successful career or are a stay-at-home mother, you no doubt have some concerns about your fiscal situation. You may be asking yourself, what can a divorcing woman to do ensure a safe financial future? 

It is vital for you to become as knowledgeable and empowered as possible about the economic state of your household affairs. Forbes magazine urges women to educate themselves about their finances prior to going through a divorce, if possible. This gives you time to prepare negotiations for the divorce process. (However, if you happen to be in an abusive domestic situation or have another reason to leave a marriage quickly, that should take priority.) 

Meeting with a financial advisor is one way to make you feel like you are taking control of your finances. You should gather as many financial documents as you can get your hands on to organize and review. This then gives you the opportunity to see a comprehensive picture of your investments, debts, assets, and tax situation. Once you have a better idea of where you stand, you can devise a plan for moving forward into a stable financial future.

The above information is intended for educational purposes only and should not be interpreted as legal advice.