Dear Fran,
I’m 45 and currently going through a divorce. I’m really worried about my financial situation afterward, especially since I’ve been relying on my husband’s income for years. How can I regain my financial independence and make sure I’m secure moving forward?
Sincerely,
Anxious About the Future
Dear Anxious About the Future,
Divorce can be a stressful and emotionally challenging time. It’s important to be prepared financially as well. Here are some steps to consider:
1. Gather financial documents: Collect copies of your tax returns, bank statements, investment accounts, and mortgage documents.
2. Consult with a financial advisor: A professional can help you understand your financial situation and develop a plan.
3. Work with your attorney to ensure a fair division of assets, including retirement accounts, property, and any other shared investments. You may also be entitled to spousal support, depending on your situation.
4. Protect your assets: If you’re concerned about your assets, consider consulting with a financial advisor or attorney to explore options like prenuptial agreements or postnuptial agreements.
Remember, seeking professional advice can help you navigate this difficult time with greater confidence.
Best wishes,
Fran
