Divorce Planning And You

If you are getting ready for a divorce or are just considering your options, then you want to have all the facts before you proceed. Divorces don't always end up the way that you expect, so it's important to plan for all possible contingencies. Here are some ways in which your divorce might unexpectedly affect you:

Your Will and Estate

One of your first concerns should be revising your will. After the divorce begins, you want to make sure that all of your affairs are in order in the unfortunate event that something were to happen to you. You will likely want to reduce your ex-spouse's portion of your estate, particularly if you explicitly named them as the inheritee of parts of your estate.

If you did not make explicit statements in your will about your ex-spouse, then you don't have that much to worry about once the divorce is finalized. While you were married, they would have received a portion of your estate via natural inheritance laws, but once you are divorced, that will no longer apply.

Combative vs Amicable Divorces

You will also need to make a conscious effort to steer the tone of your divorce. You might feel the need to be combative, but an amicable divorce can be much easier on you in a variety of ways.

With less arguing and more negotiating, you can expedite the divorce and reduce the amount of stress that you will need to deal with. Parting on agreeable terms can reduce the amount of fighting, which might mean that the other party is more willing to make concessions and give you what you want. This is doubly important if you have children, since you don't want to hurt them with a contentious divorce. The more normal and friendly that the process seems, the less of a negative impact the divorce will have on them.

Budget Everything

Your divorce will have a much greater effect on your finances than you might imagine. In very few divorces is the impact small, but if you and your spouse make the same amount of money and don't have children, then you might fall into that category.

Otherwise, you will need to determine exactly how alimony is going to work and who is going to be paying. You will also need to think about child support, which will heavily depend on how custody is determined and which parent is the primary caregiver vs which makes the most money. Of course, you will also need to think about lawyer fees, which will go up as the length of the divorce increases.

If you have questions, contact an attorney from a company like Haslam & Perri LLP.