Divorce and finances–what you need to consider

Divorce and the financial implications it entails are among the most worrying aspects of any separation. People sometimes can not only end up losing almost everything they value, but, they could also continue to pay huge alimony for many years to come. Therefore it is important that you consider the following:

1.  If the couple decide to sell the family home, then it could potentially be a complicated process as its rare that one partner would just hand the family home over to the other. This in turn means that the division of a mortgage can sometimes be complicated and messy. Its also important that couples make sure the mortgage company does not take advantage of their situation.

2.  It is important that you also consider pensions as well. Don’t forget that this too can be quite a substantial sum.

3.  Any savings, shares, bonds etc must also be taken into account and divided accordingly.

4.  Financial maintenance agreed for your children and your wife.

5.  Dividing any personal goods you may have, including furniture, cars etc.

6.  Future financial obligations (e.g. life cover etc.).

7.  Don’t forget to claim any state benefits (where applicable, for yourself and your children), including Tax Credit and Child Support.

8.  Legal and Professional costs associated with getting divorced.

9.  If there is a prenuptial agreement, then ensure that the agreement is honored.

Take the Fisher Divorce Adjustment Scale at www.DivorceSeminarCenter.com



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