Alimony & Child Support - From Confusion to Clarity
Even happy, healthy marriages involve some disagreements along the way. The truth is, that finances and spending habits are at the core of most marital arguments. Is it any wonder, then, that few issues are more volatile during the divorce process than child support and alimony.
"Formal education will make you a living; self-education will make you a fortune." ~ Jim Rohn
While self-education may not make you a fortune in divorce, it can certainly save you one! Even if you are divorcing amicably, knowing your options and potential risks, up front, is crucial. This is especially vital if you have not historically been involved in your family's budget or investments. Take the time to learn and understand each of your assets and liabilities and how these relate to the big picture of your financial future.
"I am driven by a wonderful muse called alimony." ~ Dick Schaap
This is where meeting with a financial expert is vital. All too often one or both parties has a completely unrealistic view of what they can or should pay/receive. If the parties are able to work jointly with a financial neutral, that's even better. The bottom line is that if you've done your homework, the numbers will make more sense and your expectations will be much more realistic.
Last, but certainly not least, is the importance of being properly supported emotionally when dealing with the difficult financial decisions of divorce.
"For anyone going through a divorce or any other painful challenge, the first and most important recommendation I can make is to find some kind of spiritual and emotional support." ~ Alana Stewart
This is particularly true when someone is faced with the harsh reality that support will cost them more than they thought, or that they'll receive less than they'd hoped for. Having a coach or counselor that can offer you practical, professional help and support during this time is priceless.
Never underestimate the importance of using qualified, experienced divorce professionals through every stage of your divorce. This month's expert articles and free webinar will help us better understand key financial support issues, the impact COVID-19 has had on many cases and how we can maintain our mental and emotional balance throughout the entire divorce journey.