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Important financial preparation for women facing a divorce

On Behalf of | May 5, 2022 | property division

During a marriage, it is common for one spouse to earn less than the other. Women often earn less than their husbands due to factors such as the gender wage gap, household roles and more. For this reason, it is especially important for a California female facing a divorce to take the necessary steps to prepare well for what is ahead. This will help them lay the foundation for a strong future.

Steps to a strong future

Women can seek future stability, financial independence and security long-term by taking certain steps before their divorce. Some of the most beneficial ways a woman can prepare for the legal process and financial changes ahead include the following:

  • Close credit card accounts in both spouses’ names.
  • Open an individual bank account.
  • Take steps to build her own credit.
  • Cut expenses and adjust to post-divorce circumstances.

A woman facing a divorce may be up against difficult financial circumstances, but she can seek the best possible future starting before and during her divorce. Preparing for a divorce can help a woman understand her likely post-divorce circumstances and make smart decisions that will benefit her long-term.

The goal of a property division settlement

During property division negotiations, a woman will find it beneficial to keep her focus on what will make the most sense long-term. In addition to careful preparation, she may also benefit from speaking with an experienced California attorney. This will allow her to seek terms that will allow her to have a strong future.