Divorce Facts: How Do You Survive it With Financial Stability?
The money will always play a role in marriage. Whether couples admit to it or not, the financial status always influences the decisions that they make while they are married that they find their family in. Sadly, couples who dealt with a lot of financial struggles are the ones who file for divorce.
For example, when a husband no longer works while the wife is working hard to make ends meet, the wife is usually the one who grows tired of the situation and files for divorce. She might think a court order demanding that her husband gives her and the children financial support might be the only way to take him off the couch and start working.
The sad truth is that money can become a huge factor in marriage. And unless you recognize this, money can take over the relationship without you knowing it until the wedding you worked hard for ends up in a divorce. So before you lose everything you have worked hard for to a spouse who might want to get almost all of it, make sure to protect yourself by getting the right lawyer to help you make sound financial decisions. How else can you survive divorce with financial stability? Here are a few tips that might work for you:
- Tip 1: Rework your will
Make sure to ask your lawyer to make the necessary changes in your will. Whether you’ve got a fortune to leave behind or a couple of properties you want to leave your husband and the kids, make sure that the changes are made. You don’t want your children to suffer even more. Make sure they get their fair share before you think about remarriage.
- Tip 2: Consider getting a financial advisor.
Your lawyer may have a few ideas about how you should handle money or at least how you could get the better half in the divorce, but a financial advisor can help make you make all the right ones. A financial advisor can educate you on how to use your money wisely to secure your family’s finances today and in the future.
- Tip 3: Does your spouse have life insurance?
Make sure that they do; that’s tip #3. Without life insurance, your spouse might not be able to fulfil child support in the future, and that’s the least that you want. Make sure to discuss this during the negotiations for the divorce. Give emphasis on the fulfilment of child and spousal support and how often you want it delivered.
- Tip 4: Properly value your pensions and those of your spouses.
Even after the divorce, your spouse’s potential pensions should still be divided between you and him. Make sure you accurately value the pension he should be getting actually to get the fair share of it.
- Tip 5: Make sure you are financially secure to keep the house.
Talk to the bank about the mortgage and make sure to decide on whether to settle it once the properties have been liquidated. You don’t want to burden yourself with mortgage payments while your spouse is enjoying the cruise in the Caribbean, right?