I received a phone call last week from a devastated spouse who said, “I can’t believe it, I have been married, I thought happily, for 9 years, and today my spouse said, ‘I want a divorce. I’m not happy. I want to be happy. This marriage is over!’”
She said her whole life just flashed before her eyes. She didn’t see this coming and didn’t know what to do. The main concern was that she had given up her career as an accountant and had stayed home and supported the efforts of her spouse, who had achieved great success and created a growing dental franchise in three nearby states. Now she feared what lay ahead financially for herself and their children.
As a divorce attorney and mediator for over 35 years, I discussed all her options including the use of my unique divorce mediation process that can save money and time!
There are still many spouses who give up careers to stay at home to raise children. They often spend most of their marriage helping to support, and in some cases, to build their spouse’s careers/businesses in the best interest of the family. But, if at some point you or your partner want out of the marriage, will you be prepared? Will you be able to survive financially?
The answer is Yes! But I strongly suggest you always keep your finger on the financial pulse of your marriage and family. Don’t be in the dark. Don’t leave all the financial decisions to your spouse. Insist on being a partner in all the financial decisions and know where all the money is invested. Look at all bills, statements, payments, etc. Don’t forget about yourself along the way, keep your skills sharp and remember to stay present in your marriage. Always put aside some money for yourself!
Here are my six tips for building financial safety in the event of a divorce:
- Make a plan before you move forward with a divorce. Sometimes you won’t have that luxury, especially if your spouse walks through the door and says, “I want a divorce.” So be prepared. Evaluate your skills, finances, and ability to support yourself financially.
- If you find yourself falling behind on taking care of yourself and your skills, you may want to take some classes or become certified in a particular profession.
- If you have skills and can return to work, update your resume and explore what opportunities exist. Create a work-at-home opportunity for yourself and start networking with friends already in the work force.
- If you don’t have separate assets, consider having a separate bank account, set one up and start saving some money. You will need money for a retainer for an attorney or mediator if divorce does rear its ugly head.
- Review all your expenses. Make a budget. What are you spending now? What will you be able to spend after the divorce for your own household? Know how much you will need to survive. Start implementing changes to cut back on expenses, and put some money aside for yourself.
- Visualize the Life You Want! Your life will change after divorce. Some things will be better, others more challenging. Think about where you want to live, what type of career you will embark on, and how you will be prepared financially to handle all of these changes.
If you are considering divorce and concerned about financial safety, I want you to feel encouraged and empowered by “being prepared” if divorce should occur in your marriage.
Call me today and I will help you prepare emotionally and financially for the next steps. We can also discuss my money-saving divorce mediation process!
As a divorce attorney and psychologically trained mediator, I have been successfully guiding divorcing families using compassion, keen legal strategy, and unique psychological insight for over 35 years.
Speak with me so I can educate you, explain what you are entitled to, and give you some suggestions on how to financially move forward with your divorce.
Call me now to schedule your free consultation. 212.734.1551.
I promise to listen, and I will give you good advice.
All our FREE 1 HOUR CONSULTATIONS are still available virtually.
I look forward to speaking with you!
Warm regards,
Lois
Call New York Divorce Lawyer Lois Brenner if you are concerned about your finances if you get divorced!
Call 212.734.1551
We have a few appointments still available this week!