3. Strategize the Split.
Figuring out who gets the house or the car or the vacation home is never easy during a divorce, but it has to be done. For those households with pooled incomes and children, it’s sometimes best to decide on what is best for the kids first. It’s often best for them to stay in the family home. Use this as leverage to find a compromise among other assets. Make sure to think about any other dependents and how to ensure their financial safety in the future.
Then, start looking at options that make sense even though they may not be what you want right then and there. You may not like the idea of renting after owning a home for several years, but it might be a financially sound decision, especially so soon after a divorce.
Think about the things that you were able to afford together and make a list of what you should cut out of your life early on- don’t worry, you can always work to regain these things on your single income in the future.
1 thought on “Getting a Divorce? 6 Financial Tips to Keep You Going!”
All this is very informative, and deserves to be remembered. The one really big obstacle is the attorney, and his cooperation and HONESTY. My attorney and my former spouse’s were in cahoots with each other, and the way they handled this was to delay answers from letters that were sent, deny that letters were sent as they didn’t receive it, go on vacation for a few days, delay answering important mail, and anything else that could be a hitch in completing the job quickly and to the best of their ability. I guess these two reprobates learned how to make money, but never protected their client. My attorney, who had questions on the real estate, that went unanswered, called my real estate agent to get an answer, then billed me for the time. He was NO WINNER. This person was recommended by another attorney. Too bad I didn’t check out both attorneys from the beginning. I say that $40,000.00 was a lot of frivolous waste of my hard earned dollars. I only worked forty some years before deciding to divorce this narcissist, who died three years after the divorce was final. Too bad it wasn’t before that. BTW, I never found out the amount of how much the attorney for my former husband fleeced him for.