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How do you avoid money regrets after a split?

On Behalf of | Sep 20, 2021 | Family Law |

According to a study done by Fidelity Investments, a majority of people going through divorce stated that they held some form of financial regret. This may come as a surprise, as many people consider relationship regrets at the forefront during divorce cases.

However, monetary regrets can have a real and lasting impact long after the finalization of a divorce, which poses a legitimate concern for many.

Get involved as soon as possible

Reuters mentions that many people have money-related divorce regrets after going through with the split. Some report regretting not having any involvement in daily financial matters of the household. However, you can fix this issue at any point in your relationship, even if you have already decided on a divorce.

Getting involved in household finances will give you access to important information like bank statements, and it also allows you to track the ebb and flow of money. This can set anxiety at ease if you have any concerns or suspicions about a spouse attempting to hide assets.

Focus on your long-term plans

It also gives you the chance to learn more about your long-term planning and retirement investments or plans. Even if you went through the marriage not having any involvement with such matters, now is a good chance to learn where you stand so you can adapt in the aftermath of a split.

Consider a postnuptial agreement, too. This allows you to handle matters of asset division in a fair way, and also provides a tool for breaking bad spending habits or even resetting your financial matters entirely. However, discuss these matters with a legal professional before making any final decisions, as they can help you decide what options will serve you best before, during and after a divorce.