Remember: there’s nothing like new knowledge and a fulfilling career to bolster your self-esteem. Engage a forensic accountant if you think there might be hidden assets. Hire a divorce financial professional to help determine the best settlement options for you.Don’t skimp now on matters that will affect the rest of your life.Listen to your attorney, but make your own decisions. During divorce, prepare yourself mentally for the worst that can happen. If your ex remarries within two weeks, moves to Tahiti, and/or refuses to pay any support? Divorce is an excellent time to get some career counseling at the local job center, university, or community college. Divorce can be very complicated, so don’t try to do it all yourself.
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Studies show that in the first year after divorce, the wife’s standard of living may drop almost 27 percent while the husband’s may increase by as much as 10 percent.
Many factors combine to lower women’s standard of living after divorce. Expenses will begin to mushroom as soon as the divorce process starts.
These assets will remain yours as long as you can document them. Don’t overlook any assets—half of everything is yours!
Copies of your spouse’s business records can be a treasure map showing you where the hidden assets are buried. Even if you don’t want an asset, it can be used to trade for something you do want.
Finally, don’t just pack your bags, load up the kids, and drive away in a car that needs four new tires. The three most important words during divorce are: document, document, document.
Before you separate, buy the clothes you’ll need, perform maintenance on the car, and fix the kids’ teeth. Try to obtain copies of all financial records before your divorce begins.
Each year, nearly 2.8 million men and women go through the emotional and financial trauma of divorce.
During divorce, many women are concerned about financial survival—and with good reason.
Child support may not be adequate to cover the true costs of child rearing, and she might have lost many important years of career growth, making it difficult for her to get back on her feet after divorce. By familiarizing yourself with the twelve financial pitfalls of divorce, you can save yourself a lot of heartbreak—and hassle—in the future. Legal fees, court costs, therapist bills, new living expenses, and myriad other costs will drain your financial resources.