For couples seeking a divorce in Tennessee, rarely does a day go by where they are not met with uncertainty and concern about the future. Often, many critical decisions need to be made within a brief period of time that will greatly affect a couple's future. These decisions range from negotiating child custody agreements to discussing how shared assets, finances and investments will be fairly split between two people.
Because divorce is rarely planned, couples who prioritize securing their finances and protecting their investments early on, may be much better prepared should their relationship ever come to a close over unreconcilable differences. Even if a relationship is beginning to deteriorate and someone is frantically trying to maintain the investments he or she has worked so hard to acquire, incorporating certain actions into his or her divorce proceedings can help to provide financial security.
First, a couple may consider working with a professional financial advisor who can provide insight into how investments can best be protected and utilized in the wake of a divorce. Second, couples should be readily involved in their finances and work together to establish budgets. Making this process a team effort will make it so each person is aware of what money is going in and coming out of shared accounts. Should a divorce occur, couples who are involved in their finances can have more confidence going into negotiations regarding how financial assets should be split.
If a couple has decided to get a divorce and are not able to agree upon how finances should be shared, they may wish to enlist the help of an attorney to help them make critical decisions in preparation for living life as financial independents once again.
Source: U.S. News, "How Divorce Affects Investments," Debra Repya, Jan. 23, 2018