Managing Finances After a Divorce

Money is one of the most oft-cited divorce catalysts today, but ironically, getting a divorce is one of the worst things that can happen to your finances. In addition to the high lawyer fees, your household will be split in two, putting a strain on both parties’ subsequent budgets. Divorce can have a major impact on the other areas of your financial life as well. This article can help you navigate the world of post-divorce finances with ease.

How to Divide Assets, Debts, and Benefits in a Divorce

One of the more difficult issues that comes up during a divorce is how to divide assets, benefits and debts. Your state of residence might have an answer for you if you live in one of the nine community property states. Otherwise, decisions about the division of property can be determined in mediation, by your lawyers, or in court. Additionally, if you and your spouse signed a prenuptial or postnuptial agreement, that can affect who gets what.