In our last post we provided several tips that individuals who are in the course of a divorce might want to follow to get themselves back on track financially, after it is complete. In this post we will pick up where we left off with additional tips.
Every couple that divorces is unique and will have different issues that need to be addressed. In many cases the division of assets is a complex process. In virtually all situations the best thing that all parties involved can do is to take charge of their financial health. In the next couple of posts we will cover ways in which people who are divorcing can do this.
When divorcing couples with young children think about the financial support parents will provide their children, the concern is often with the expenses that accrue when the children are small, such as child care. While this often does need to be addressed, parents should also consider financial obligations that could exist when the children are older-such as who will pay for college. While this could be far in the future, many parents open college savings accounts, when their children are first born. The plans specifically designed for this are called 529 college savings plans.
The process of divorcing can be hard and the difficulties associated with it may continue beyond its finalization. Specifically an individual might find their divorce settlement leaves them with less financially than they were previously used to. While this can be a difficult adjustment to make, it does not have to be permanent. There are things that can be done to get back to the point of feeling financial breathing room.
The decision to divorce is life changing for most. Just as no two marriages are the same, nor are their divorces when a marriage does not work out. Fortunately there are multiple ways in which someone can go about ending a union.
There is no question that following a divorce, many people are concerned about their financial wellbeing. There is good reason for this since in many situations, dividing one house into two creates a financial pressure not previously in existence. Accordingly, it would make sense for many in this situation, to experience a great amount of stress regarding money, following a divorce. As it turns out, for at least one gender, this may not be the case.
In our previous post we wrote about how to tell your children you and their other parent are planning to divorce. While that is often a major hurdle, it is just the beginning of the process for the kids. Throughout the course of the divorce they could struggle to come to terms with the change. Though children will likely have feelings about the divorce that cannot be controlled, there are things that parents can do to minimize them. In this post we will focus on steps parents can take to try to make things as easy as possible for kids involved.
For most couples, the decision to divorce is a big one that is preceded by a great amount of thought. Definitively deciding to pursue this option sets off a chain of events that can be stressful for all involved. When children, who are old enough to understand what is going on, are part of the family, sharing this news can be hard. While the conversation will of course vary depending on the age of the child, in this post, we will provide some general tips on how to tell them the news.
Many child custody issues arise in conjunction with a divorce. When a couple that has children decides to end the relationship, matters concerning children are often a main focus. Couples who have children are not always married however. Because of this, it is possible for child custody matters to arise in other situations as well.
Financial matters are often front and center where divorces are concerned. In addition to the division of assets, for some couples, the matter of spousal support might also arise. Though not awarded in every divorce, it may make sense if one spouse either did not earn a wage while married, or made significantly less than the other. Either spouse may be eligible to receive it as long as they meet certain requirements.