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Dealing with financial distress after divorce

| Nov 20, 2020 | High Asset Divorce |

Most Texas residents would agree that life can be described as a series of ever-changing events. Some change is gradual and expected, such as aging. Other changes, however, occur abruptly or unexpectedly, such as job loss or divorce. When a marriage breaks up, particularly if there are children involved, it can spark serious financial problems that cause significant emotional trauma.

A person who experienced financial distress in childhood when one or both parents were laid off or got divorced may wind up feeling stressed over financial issues in his or her adult life. If the individual also winds up filing for divorce as an adult, resulting financial trouble might cause him or her to become depressed or even fall into despair. This is one of many reasons it is so important to build a strong support network from the start, which may not only include a trusted friend or family members but also financial advisors and attorneys who are well-versed in divorce-related financial issues as well.

Some people find it helpful to write their thoughts in a journal as they navigate challenging life changes. Sometimes, committing oneself to writing for as little as 15 minutes a day may help process emotions and may even be therapeutic. It is always best to take proactive steps to deal with frustration or the sorrow that often accompanies divorce or serious financial crisis. The two issues often intersect. Many people have described feeling as though they are in mourning when they have suffered significant financial loss and it’s also how many people describe their feelings after a divorce, even when they were the ones who filed the paperwork.

It is not only OK but healthy to allow oneself to feel sad or to mourn a financial loss or a relationship that has come to an end. The financial aspects and feelings of sorrow in a divorce may be intensified for a person who was not the one to file the petition or who had no desire to divorce but was unexpectedly served papers from a spouse. The good news is that most financial crises are temporary. This is why it pays to seek consultation with an experienced Texas attorney who can make recommendations regarding property division, child support or other finance-related issues and can act as a personal advocate to protect one’s financial interests in court.