I want to talk about 8 financial surprises which often come up for clients when they start their divorce:
1. Household debt.
Debt in your spouse’s name is relevant when you’re a married couple.
2. Your spouse’s income.
You need to know what income is coming into the house and what your spouse earns.
3. Your earning capacity.
Even if you’ve been the home maker during the marriage, you may still need to consider earning your own money post divorce.
4. Over-estimating child maintenance.
What you or your ex will pay will depend on the calculation done using the Child Maintenance Service online calculator.
5. Expecting spousal maintenance.
Not everyone is eligible for spousal maintenance from their ex. It will depend on your own income and your earning potential.
6. Keeping the family home.
There is no automatic right for you to keep the family house as part of your divorce settlement.
7. Expecting your spouse to be punished.
Your spouse will not get less in the divorce settlement because you feel they caused the breakdown of the marriage.
8. Under-estimating the costs of divorce.
Getting divorced costs money and most likely more than you’d hope. Make sure you have funds in place.
Make sure you:
✅ Get informed with accurate professional advice from your divorce consultant and your solicitor.
✅ Have up-to-date information about ALL of the family finances.
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If you have found the tips in this blog useful then you’ll find lots more in my eBooks, which you can purchase and download today.
To read more of my blogs on the topic of Finances, click here – Finances.
©Rhiannon Ford 2010-2024 All rights reserved
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Why I became a divorce consultant.
