July 15th, 2013 at 12:44 pm
Divorce is a difficult process for both people, but for a stay at home spouse it can be downright scary. You are suddenly faced with the reality that your life will change completely. While emotions run high, you must muster up the strength to prepare if you expect to come out on top. As a stay at home parent, you are accustomed to your ex being the breadwinner, and now with divorce looming you realize that your lifestyle as you currently know it will change. Wife.org warns against falling into the financial pitfalls of divorce.
Not Having a Plan
Far too often, the stay at home spouse doesn’t think to have a financial plan in place when divorce happens. If your working spouse has moved out, monies for two residences may not be possible. How will you manage? Long before the divorce process begins, it is important to be financially prepared.
Lack of Preparation
Most people see signs of divorce before it is final, yet little preparation is made. For instance, be smart before you make your move. Take advantage of resources that may not be available during or after the divorce, such as health insurance. Do car maintenance before you leave.
A common pitfall for stay at home parents is not keeping good records. Collect copies of all financial documents before the divorce process.
Tap Your Resources
It is time to reach out for help from professionals who can help you survive this overwhelming time in your life. At a time like this, you can use all the help you can get. Reach out to financial advisors, research divorce laws etc.
If you are contemplating divorce, an Illinois divorce attorney is someone who you want on your side. You don’t have to do this alone. Call for a consultation today.