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Managing retirement accounts, emotions can be hard during divorce

| Mar 11, 2018 | High Asset Divorce |

When it comes the dissolution of a marriage, becoming overwhelmed both financially and emotionally is easy. This is true not only during the divorce proceeding but also once the divorce has been finalized. A couple of tips may help with navigating these challenges, ranging from managing one’s feelings to managing one’s retirement accounts, when going through the divorce process in Texas.

First, seeing a therapist may be one of the wisest moves a person can make when navigating divorce. In addition to receiving emotional help from a therapist, this individual may benefit from attending a support group or even reading self-help books. However, these types of books are essentially useless unless the reader takes the necessary steps to apply them in his or her life.

Second, examining one’s financial situation is paramount during divorce. This includes determining how much debt one has accrued as well as how child support or spousal support payments will impact one’s monthly budget. Knowing this information may make it easier to avoid making costly money mistakes down the road.

Although dissolving a marriage in Texas can be challenging, going through an alternative process to traditional divorce litigation, such as mediation, may make a spouse feel more empowered. During such a process, two spouses can quickly work toward a mutually satisfactory agreement regarding their retirement accounts or alimony, for example, and then move on with their separate lives. Unfortunately, spouses cannot make the process work sometimes, in which case, a judge must step and make the final decisions for the couple. These final decisions, however, may not necessarily be what one or both spouses expected or wanted.

Source: goodmenproject.com, “A Road Map for the Newly Separated or Divorced Man“, Tom LaPeruta, Feb. 27, 2018