From our blog:

10 Tips to Help You Prepare for Divorce

Worried woman about worst case scenario

Divorce can be a complicated and stressful process. Being unprepared can make it even worse. Here are 10 things you should consider when preparing for a divorce.

  1. Create a detailed budget to understand your expenses and income during and after the divorce process.
  2. Determine your financial goals and objectives for both the short and long-term.
  3. Work with a financial advisor to help you develop a post-divorce investment strategy.
  4. Consider your retirement plans and adjust them accordingly.
  5. Review your insurance policies and update them if needed.
  6. Create a plan to pay off any debts that you and your spouse may have accrued during the marriage.
  7. Strategize how you will divide assets such as property, investments, and savings.
  8. Understand the tax implications of the divorce and make adjustments to your finances accordingly.
  9. Consider the future expenses of any children involved such as education, healthcare, and extracurricular activities.
  10. Create an emergency fund to help you through unexpected financial challenges that may arise during the divorce process.

This is certainly not an all-inclusive list. When you are ready, schedule a time to talk with a Divorce Financial Professional to talk through your specific situation.

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