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Anticipating financial surprises due to divorce may be wise

Many events in life can come with surprises. Unfortunately, when it comes to divorce, avoiding surprises may be the best route for reaching the desired outcomes. Of course, without the right information, New York residents and others across the country may not know where to look for potential surprises.

One area to always explore when considering possible upset is finances. A recent survey indicated that 46 percent of the divorced women who participated stated that they faced financial surprises as they ended their marriages. In some cases, those unexpected events came about due to making assumptions about the outcomes of their cases. For instance, some women assumed that they would receive child support or alimony for a longer period of time than awarded or that the amount would be higher than what was awarded.

Financial setbacks can also occur due to underestimated costs of the divorce process itself and not having a full understanding of the marital debts. Because debts are divided during divorce as property is, individuals can end up with more debt to face on their own than they may have anticipated. Another sticking point when it comes to property division is assuming that a person will get to keep the marital home when that may not be the case.

Divorce can cause many upsets in life, but individuals going through the process can also take the time to plan ahead. By researching the marital finances and understanding that certain outcomes will depend on specific factors of the case, divorcing New York residents may help themselves refrain from making unfortunate assumptions. In order to gain help and information on ways to prepare, interested parties may wish to consult with knowledgeable attorneys.

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Divorce: a Practical Guide

Divorce: A Practical Guide

Attorney Jusino’s new book on divorce is an easy read and full of valuable information. Learn More