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Please contact my office to setup a free phone consultation at your convenience.

4807 Gaston Ave.
DALLAS, TX 75246
(Click for map)

Phone: 214-528-4191

Office Hours:
8:00 AM to 5:00 PM
Monday - Friday

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Avoiding Financial Disaster

Tips for Avoiding Financial Disaster

Negotiate a reasonable settlement

Get some professional advice from a CDFA or CFP to make sure you'll be able to live with the financial terms of the settlement -- now and into the future.

Don't live beyond your income

Reduce your expenses -- or increase your income -- so that you are always saving something for a rainy day. Ask your financial advisor for help creating a budget if necessary.

Think twice about keeping the family home

Ask your financial advisor whether you can truly afford it, and ask them to show you what cash you'd have available for investment if you moved to a smaller home.

Realize that you won't get everything you want in the property division

Don't spend months and thousands of dollars fighting over furniture,
appliances, or other personal items. Make a short list of "Must-Haves" and be prepared to compromise on everything else. Look at the big picture; is this asset best for your situation?

Protect your Retirement Assets

In the U.S., have the QDRO filed as soon as possible.

Use debt sparingly

Get a copy of your credit report and close all joint accounts and all credit you do not use. Avoid maintaining balances on credit cards.


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© 2003 - 2006, Lisa McKnight

No information or materials posted here are intended to constitute legal advice, and are not applicable to any specific set of facts, especially to any individual's personal situation. Neither the information contained herein nor the perusal of it should be construed to constitute legal advice or establish an attorney-client relationship with the Firm or any of its lawyers. Lisa McKnight is Board Certified in Family Law by the Texas Board of Legal Specialization, but not in any other area of specialty. Lisa McKnight is the attorney responsible for this website and content.


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