Divorce

In a divorce settlement, you don’t get do-overs. Doing your homework and enlisting the help of  trusted professionals can prevent costly mistakes. Few times of crisis require immediate, clear-headed financial thinking like a divorce. From the time of the split to the signing of the settlement, both parties will face making those decisions in a whole new context – alone and with an adversary. In even the most amicable split, the decisions about who gets what come with a mountain of emotional baggage.

Because we often forget about insurance until we need it, life, health, homeowners and disability coverage issues can get overlooked during a divorce settlement.  In working through your divorce, don’t forget your most valuable assets: your life and your health. Both directly affect your ability to earn income and to care and provide for yourself and your family. You have several areas to look at to ensure you’ve managed your risks.

The emotional upheaval of a divorce is no time to be learning money basics and selecting professional advisors. Preparing now isn’t cynical – it’s smart.  In the late 16^th century, when death parted married couples far more often than divorce, Sir Francis Bacon wrote, “Knowledge is power.” Women of the 21^st century should adopt that credo with the addition of the word “financial.”