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The divorce process may include surprising financial information

Generations ago, many women allowed their husbands to handle the financial affairs of their marriage. In reality, a marriage thrives with active participation from both spouses, especially when it comes to finances. After a divorce is initiated, many spouses may be unpleasantly surprised by the knowledge that their finances were not as solid as they had believed. South Carolina residents who are preparing for a divorce may seek assistance in collecting all relevant information, as doing so can ensure a sound financial future. 

According to a recent financial publication, many women seem to lack full knowledge of marital finances until after a divorce has been initiated. In spite of all the work that women have undertaken to ensure that they have equal rights, there appears to be a willingness on the part of many wives to not be involved in the investment side of their marriage. While the report indicated that women from the baby boomer generation tended to be less involved in handling the finances, it appears that women of all ages may still not be taking an active role in these important matters. 

Once a woman has gone through a divorce, however, she is more inclined to take on financial responsibility in a subsequent relationship. According to a survey, those who were not satisfied with their finances after a dissolution reported how little financial knowledge they had until the full disclosure portion of the divorce process. While there were some who learned that they were better off financially than they originally thought, many lamented that they did not insist on being involved in money management during their marriage. 

While this report focused on women, it is possible for either spouse to be unpleasantly surprised by negative financial information. The divorce process itself often results in unwelcome information relating to many aspects of an unhappy marriage. South Carolina residents who are preparing to file for a divorce may benefit from seeking the guidance of an attorney who can help them obtain the best settlement agreement for a sound financial future.

Source: investmentnews.com, "Many women get a rude financial awakening when they divorce", April 13, 2018

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