I came across this article from the St. Louis Post-Dispatch. It is has some very good advice about the financial implications of divorce. I especially echo the advice regarding both spouses having a complete understanding of household finances. Not only is it helpful in the case of a divorce as this article points out, but it also seems to me to be a foundational communication issue in a good marriage. But, I continue to talk to clients who do not know their household financial picture because their spouse has kept them “out of the loop” regarding income, expenses, assets, and debts. That can be a costly mistake for a number of reasons. Don’t you make it.

I also found this nugget of statistical information that I had not heard before: Average length of a first marriage that ends in divorce: 8.2 years for men, 7.9 years for women, according to the Census Bureau. The eight year itch, I guess.

Here is a link to an article at MSN Money entitled 10 Steps to a Money Smart Divorce. The article generally contains good advice. Several of these steps are things that I routinely advise my clients to do (particularly the one about getting a copy of your credit report).

One word of warning though – one of the suggested steps is to close joint accounts. This can often be a good idea, but many jurisdictions in Alabama enter a standard Pre-trial Order of Court in every divorce case which expressly prohibits either party from closing joint accounts. So, before you do so, make sure you consult with your lawyer and that you understand any outstanding court orders that may prevent you from taking the proposed action.

Jim Jeffries | Mobile & Baldwin County Attorney

Jim currently is a member of the Alabama Supreme Court's Advisory Committee on Child Support Guidelines and Enforcement as well as a statewide committee that has been tasked with reviewing and making recommendations for possible revisions to Alabama's version of the Uniform Interstate Family Support Act (UIFSA). Jim was also recently appointed by the President of the Alabama State Bar Association to a serve on a committee whose purpose is to review and comment on Alabama legislation regarding joint custody for a proposal to the Alabama Legislature for possible changes in this legislation.

Jim has attained a Peer Review Ranking of AV from Martindale-Hubbell® - The highest an attorney can be ranked by his peers.

He continues to lecture to attorneys across the state regarding family law issues.

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Jeffries Family Law, LLC

Divorce Attorney | Child Support & Child Custody Attorney | Prenuptial Law Attorney

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