Kevin Qualls Family Law
Maintaining Professionalism. Preserving Civility. Finding Answers. Practical Guidance On Important Divorce And Custody Matters

Planning tips for divorce and post-divorce budgeting

Marriage celebrations can be lavish affairs, and rightly so: A new couple wants to create a beautiful memory for their new life together. Unfortunately, if circumstances change and call for a lifestyle change, individuals may find that divorce can rival marriage celebrations in terms of the planning required.

For couples that are unprepared, it can be a costly and time-consuming ordeal to compile lists of their assets and debts. Tax returns can serve as a partial checklist, but couples may overlook other financial documentation, such as securities and/or retirement-benefit and insurance policy information. Real and personal property must also be valued. For couples that only had joint credit and banking accounts, separate accounts will also need to be opened. 

Fortunately, a skilled divorce attorney can help minimize the time and cost associated with a divorce. An attorney can help individuals prepare an inventory of their assets. An attorney that focuses on divorce and other aspects of family law can also help individuals start budgeting for a separate life.

In some instances, an attorney can provide a voice of reason against keeping the family home only for sentimental reasons. At a minimum, and attorney can help individuals budget the taxes, insurance and other fees, and maintenance costs that should be included in any cost-of-living estimates. Those costs should be compared against an individual’s separate income, with the possible addition of alimony or other forms of support payments.

However, spousal support is not automatic in the state of California. An attorney can advise an individual of the factors that a court will consider in approving or denying a support request. That, in turn, may impact an individual’s decision whether to stay in the family home. For more information, check out our firm’s spousal support page.

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Kevin Qualls Family Law
625 The City Drive South
Suite 470
Orange, CA 92868
Toll Free: 800-783-1934
Fax: 714-750-5983
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