Alimony, property division, tax planning... the financial aspects of your divorce can cause undue stress and confusion. Unfortunately, the difficulties are far from over after you sign the final papers. Once you've addressed the immediate concerns of separation, it's time to think long-term. The sooner you adjust your estate plan, the sooner you can enjoy the closure that comes with a truly completed dissolution. Get started with these essential projects:
Some well-intentioned parents know their marriage is over, but they choose to wait “until the kids are older” before filing for divorce. Others separate later in life after a devastating revelation (such as the admission of an affair) or because the relationship just isn’t working anymore. Each divorce is different, but those involving adult children require special consideration. It’s easy to avoid sharing details about a divorce with little ones. But adult children will likely pepper you with questions and worries. How can you be forthcoming with them in a strategic, loving way?
Holiday plans add another layer of complexity to already frustrating visitation negotiations, especially following initial separation. There's no better way to destroy the holiday spirit than with endless bickering over visitation arrangements. These guidelines will help you and your ex achieve a mutually beneficial visitation plan:
Money troubles stress relationships and no doubt contribute to a significant percentage of break ups. Divorce can take a toll on your career earning potential, extend the time you have until retirement and force you to take a tax hit. Even relatively low-cost divorces can cost thousands of dollars, and you and your former spouse must each adjust to living on a single income. Obviously, the challenges multiply when children are involved. Follow these tips to manage your finances and recover after a divorce in Minnesota:
The holidays are a time for family and celebration. If you’re dealing with a strained relationship, and you plan to file for divorce, the season that normally brings cheer only makes things more difficult. If children are involved, things can be even more unbearable. Here are a few tips to help you make it through.
The saying “choose your battles” might apply to any divorce proceeding, but it’s especially pertinent to those involving high net worth. Wealthy couples may need to manage more material assets and property, and divorce often becomes a matter of preserving reputation. Whether you own a profitable business that must be split or oversee sprawling real estate holdings, here are four potential obstacles in your way—and what to do about them:
After filing for divorce, you might find that news travels quickly through your community. In an ideal world, your friends, family and colleagues would respect your space and avoid pressing you uncomfortably about what happened or gossiping about the separation. Alas, we do not live in an ideal world. It’s helpful psychologically to prepare to encounter invasive, even offensive questioning.