Divorce is hard! You have heard it a thousand times but now you are experiencing it for yourself. Often, the focus on the difficulties of divorce is directed at women, but it is just as hard for men as well. They, too, are losing their family unit and they, too, suffer from the emotional and mental hardships associated with divorce.
Many of those emotional and mental hardships must be addressed on a personal level. However, men can and should seek as much advice as possible about the financial side of ending a marriage. The tips below can help Kentucky dads protect their finances and still make certain their children have everything they need to thrive.
— Don’t dismiss alimony: If your wife is the main breadwinner or has a greater income, then you may be entitled to spousal support. At the very least, consider talking with your lawyer about the option.
— Avoid rash financial decisions: In times of great change, many people fall prey to an urge to start fresh. Starting fresh is great, but when a divorce is on the table, restraint is the better choice. Wait several months before making major financial decisions.
— Look to your financial future: Once your divorce is final, your life will be different. You will have new and different expenses like housing costs and making your new home comfortable for your children. Be sure to budget accordingly so that you are not suddenly in dire financial straits.
In addition to being difficult, divorcing with children is extremely chaotic. Choose a lawyer who has the experience to make sure you do not overlook the financial side of divorce.
Source: The Week, “8 financial tips for men getting a divorce,” Hayley Krischer, accessed Feb. 24, 2017