Let’s face it. Only ascetic monks can rival divorce when it comes to the liberation of money and material possessions. Even country music seems to have realized it better stop singing about it and start doling out advice before it’s too late. By the time you arrive in your post-divorce life, you are ready to declare your bed your place of residence. Alas, it is not over. It may never be over. So, rather than continue to shine bright light and spread cheer in your life, let us instead take stock of what you could be facing.
Divorce is Personal
Divorce can hit at pretty much any point in your relationship’s history. Depending on how long it’s been and what choices were made, this can mean any array of variable just waiting to be suddenly and jarringly disrupted. Once all ten pins are bowled over, here are some new situations you can look forward to:
- Divorce court. That’s right. You are in the middle of a divorce, that’s one divorce. This will likely mean that you will be visiting the place where all divorces end up. Just think about that. Keep your head on straight. Try to latch onto the friends that have been your rocks. Here’s one big reason why.
- Friends jump ship. Let us not forget that before it all went south, marriage was supposed to be a union. Your friends were her friends were your friends. Group dynamic have long since intertwined with what you may have thought were just one-on-one connections.
- Doing it for the kids. We’ve all heard this phrase and who can argue? If there are children in the picture, they are unquestionably without fault in the whole affair. With kids, you gain a partner and lose one at the same time. Marriage and parenting have very different shelf lives. Look at it this way. In order to be the best parent to your children, you will have to shed all personal matters of the divorce as best as possible.
Before we get to the financial nitty-gritty, what signs can you count on to warn you or prepare you? For the most part, marriage will have gotten you accustomed to a certain lifestyle. Whatever it may have been, whatever material possessions you may still covet, brace yourself.
Divorce is Financial
The romantics may say the real pain has passed. The cynics may say it is still yet to come. Oh, and the realists will probably wait until the end and say it is all of the above. Still, all three will likely have an eye on their wallet so let’s dig into the essential financial ramifications you will be living with, post-divorce.
- Remember sharing? After divorce, not so much. If it’s been a long marriage, you have most likely grown accustomed to splitting the bill. Now, single person items will come with higher costs.
- Oh right, the nest egg! Whatever you and your ex were keeping warm, will no longer be supporting your bottom. If you want to continue living the same lifestyle, that egg will have to grow immediately.
- No, wait. The house? That’s right. The utilities may be easier to handle but all the other costs remain the same. How much do you still want to call yourself a homeowner?
- Child/Spousal Support. How is that retirement goal looking? Are you moving it back? How about expenses? Are you cutting those?
- Retirement? Take an early withdrawal to pay off a divorce settlement. See your savings get affected significantly.
A divorce attorney obviously is in her wheelhouse leading up to and during the proceedings. Yet clearly, the adventure does not end there. There is much to adjust to and Fabrikant Law will not abandon you. Establish and maintain contact with our offices throughout these trying times and we will guide you every step of the way.