If you're going through the divorce process, don't waste any time thinking about the future. Instead, immediately focus on the steps you can take today to prepare yourself for everything the future will bring.
There are many ways to financially prepare for divorce. Here are three important steps to take:
-- Make note of how your life will change. Will you need to find a job? Will you be able to maintain your standard of living without another income? You need to be honest with yourself in regards to how your life will change after the divorce is finalized.
-- Consult with a financial adviser. You don't have to do this, but it will definitely help you better understand what the future could bring. This person can review your situation and give you a clear picture of what you should and should not be doing.
-- Be flexible. Some of the things you were familiar with in the past may not be part of your life in the future. Although this may mean big changes, flexibility is key when it comes to your finances after divorce.
If you neglect to financially prepare for divorce, you could find yourself facing many unnecessary challenges in the months (and years) to follow.
Getting through the divorce process is all about being organized and making sure you know what to expect. It can take some time and effort to prepare for everything that will come your way, but it's better to take the initiative than to sit back and hope that things work out for the best. Consider building a team of allies in your divorce lawyer, a financial planner and more professionals.
Source: USA Today, "Get financially prepared before getting a divorce," accessed Dec. 29, 2016