One of the biggest challenges people face as they go through a divorce is failing to understand their financial situation. In most relationships, one partner is usually the "driver" when it comes to financial decisions. After divorce may be the first time a spouse becomes the decision maker for their financial future. It is important to be realistic with your expectations about what happens after the divorce is finalized and what you expect to receive.
Here are five things to consider and understand before finalizing your divorce:
Divorce is never easy, but the most successful ones are those that are done with as much objectivity and as little emotion as possible. Taking the steps outlined in this article can help safeguard against making emotional decisions – which will help ensure that you don't sacrifice something you absolutely need to get something you merely want.
Laurie E. Ingwersen (CFP®, CRPC®, CDFA™) is Vice President, Wealth Management, of The Harvest Group in Wellesley, MA. For more than 40 years, The Harvest Group has been dedicated to helping families achieve their financial and lifestyle goals while providing exceptional service, communication, and advanced wealth-management solutions. www.ubs.com/team/theharvestgroup.Back to Top