Divorce can be a painful, confusing, and nerve-wracking experience that has a massive impact on your finances.
As you move from a single household to two separate homes, income will not stretch as far. Studies show that people need to increase their income by approximately 30% to maintain their current standard of living.
Key issues to keep in mind include:
- Personal Budget
- Financial Documents
- Insurance and Benefits
- Retirement Asset
While divorce is life-altering emotionally and financially, doing your financial homework can lead to a much better outcome.