Search Site

Tips to Help You Prepare Financially for Divorce

The divorce process can quickly become complicated, especially when it comes to untangling the web of assets, debts and financial responsibilities of both spouses. You can make the process easier on yourself by getting your finances organized once you know you are getting a divorce.

The following are a few tips to help you prepare for the financial aspects of a divorce in Minnesota:

  • Track all your expenses: You should carefully analyze your expenses and income to prepare for a post-divorce budget and get a better idea of what you need to look for in the asset and debt division process. This will also inform how much spousal maintenance and/or child support you will need to maintain a reasonable standard of living for you and your kids.
  • Organize key documents: Arming yourself with financial documents will allow you to more easily back up your arguments during the divorce process. Collect documents such as your checking and savings account statements, statements for retirement and investment accounts, credit card statements, pay stubs, tax returns, loan documentation, lists of assets and debts accrued during the marriage and any other financial information.
  • Put off big financial decisions: Try to avoid taking out any loans, making any big purchases or making any significant alterations to retirement accounts or a last will and testament until the divorce has been finalized.
  • Go to experts for advice: Many people will provide you with well-meaning advice, but the only advice you should listen to is that of your divorce attorney or financial advisor. These professionals are well-versed in the laws and potential outcomes of all potential actions.

For the guidance and advice you need as you work through the divorce process, consult a knowledgeable Minnesota family law attorney with Appelhof, Pfeifer & Hart, P.A.

Leave a Reply

Your email address will not be published. Required fields are marked *

Our Attorneys
Client testimonials
  • "Tori had a thorough understanding of my situation and made excellent recommendations to resolve my concerns. She was persistent on communication and handled everything in a very timely manner. I would definitely hire her again in the future if needed." - M.K.

  • "With Appelhof, Pfeifer & Hart, P.A., it is like having a family physician. They are all knowledgeable, thorough, comforting, and the only call I need to make for all my legal needs for many years to come. No matter what the matter, I totally trust their advice and commitment to me and my family." - J.N.

  • "Mary from APH Law helped me thru a difficult divorce. She and the entire staff was there for me every step of the way helping me on what to do next. They listened to what I wanted and helped me achieve what matter the most to me in the divorce settlement." - Dana C.

  • "I chose APH after my initial consultation with Mary. I felt my best interest would be represented. The entire process went excellent, the attorneys and staff communicated effectively and efficiently with me throughout the process as they needed to. Being new to the legal process and verbiage, they walked me and talked me through the next steps and the jargon, I felt completely comfortable and represented. I hope I never have to use legal services again but if I do I will call Mary at APH Law and know that I will be taken care of." - Jeff M.

  • "Divorce is a time of emotion and stress. Mary Pfeifer , My lawyer was professional and compassionate. She was very informative through the process. Her insight helped me in my decisions. She worked hard to obtain a settlement which was fair to both parties.Though, I hope I won't need her help again. It is reassuring to know a good person that is willing to help." - Rod S.

  • "I first came to Ms. Jacquelyn Lutz of Appelhof, Pfeifer and Hart in October of 2016. It was definitely the worst time in my life and she compassionately spoke with me about my options. Ms. Lutz thoroughly explained the laws, statutes, process and what to expect going forward. What was supposed to be one case, turned into three intricate cases that took a huge toll on me and my family. Ms. Lutz represented me in court on all three cases with a vast knowledge of the laws and how to proceed accordingly. During all three cases she kept me informed, calm, gave me resources to utilize, and (most important) gave me a realistic view of what may come next. Ms. Lutz knew each case required a great deal of knowledge and creative thinking on how to legally proceed forward with each case. My family and friends are forever grateful for the amazing representation by Ms. Lutz. I highly recommend Ms. Lutz for anyone needing or considering superb representation for any kind of family law. " - M.H.


Contact us

Quick Contact Form