We know the sound advice that financial gurus recommend a 6-month savings of living expenses. We also know how difficult it is to do that.
But, today’s advice is about a different type of emergency fund. I suggest you have a cash emergency fund. Have enough money that you can get the help you need in the event of a family law emergency.
It is not uncommon for potential clients to have no readily accessible monies or extremely limited access to any monies. This makes it very difficult to navigate in the world that we live in. Also, when monies are in a joint account the joint owner may take any or all of those monies at any time and may also see if you did the same.
Have an emergency fund of several thousand dollars handy. Keep it somewhere safe and even if you never need it, you may have a family member or friend that will.
Matthew Thompson is a family law attorney in Mississippi and wishes you a Happy Groundhog Day!
(601) 850-8000 Matthew@BowTieLawyer.ms Thompson Law Firm, pllc