New York City Family Law Attorneys Ethan Steward and Martin Mohr Explain How to Ready the Finances When Facing Divorce

New York City family law attorneys Ethan Steward and Martin Mohr release a new article (https://www.newyorkfamilylawgroup.com/how-to-ready-your-finances-when-facing-divorce/) explaining how an individual should ready their finances when facing divorce. The lawyer mentions that if a person is looking to get a divorce, there are a few things that they need to do to make the process easier. Preparing the finances and gathering important information should be the first step.

“The first step in readying your finances will be accounting for all of your assets and liabilities. This can include property, financial accounts like retirement plans or 401(k)’s, or any debt that you may owe. It will give a clear picture when meditating or going to court and allow the division of assets to begin from a clear understanding,” says the article from the New York City family law attorneys.

New York City family law attorney

Attorney Martin Mohr explains that laying out the assets and liabilities beforehand can help the person better understand what assets they would like to hold onto and how to divide any liabilities that may be present. The next step is to document and understand the entirety of the financial situation. Collecting bank statements, obtaining property appraisals, and having any necessary real estate assessed will help the individual prepare for the court processes.

In the article, the lawyers add that building an income and expense spreadsheet will help finalize the foundation that will be used for the rest of the divorce proceedings. This includes documenting the total income and the expected income for the upcoming months. Documenting these finances will help the client understand their exact financial standing.

According to attorney Ethan Steward, “If you are going through a divorce, you know they can often descend into difficult and emotional trials of patience. At the end of a marriage, matters can often tend to become adversarial and challenging to resolve with mediation. The best strategy to find a lawyer that will fit your situation is through personal referrals. Try asking around with relatives and people close to you and see if they have had any overwhelmingly good experiences with a lawyer in recent memory.”

Lastly, the lawyer emphasizes the importance of having a skilled family law attorney when dealing with matters such as divorce. A skilled lawyer may be able to help the parents understand their roles and responsibilities in the divorce and help them come to a favorable agreement.

About New York Family Law Group

New York Family Law Group is founded by attorneys Martin Mohr and Ethan Steward. Combined, the lawyers have over 30 years of experience in dealing with New York family laws. They aim to give their clients skilled representation and educate them about their rights while navigating the complicated terrains of family law-related matters. Contact them today at (718) 293-1542 to schedule a consultation.

New York Family Law Group

910 Grand Concourse Suite 1F, The Bronx, NY 10451, United States

(718) 293-1542

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For more information about New York Family Law Group, contact the company here:

New York Family Law Group
Martin Mohr
+17182931542
help@newyorkfamilylawgroup.com
New York Family Law Group
910 Grand Concourse Suite 1F, The Bronx, NY 10451, United States

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