Your Ultimate Divorce Worksheet – Financial Preparation
When divorcing, the more organized you can be (and we recognize these can be very chaotic times) the less that it will be an emotionally and financially draining experience. Gather all relevant financial documents to give yourself a better idea of your current financial situation and to be able to manage any potential changes that may arise during the divorce proceedings. This article will provide tips on what financial documents you need to collect and how best to organize them.
If you got here first and skipped the first installments, here’s where you can find them. You really should start at the beginning to get the most out of this Divorce Worksheet.
29. Find a Financial Counselor
30. Ask A Financial Professional These 6 Crucial Questions
- Given your age, skill set, and employment alternatives, what are the best things to fight for in the divorce?
- What is the best financial decision for you regarding the marital home? (Should you try to keep it, give it to your spouse, sell it, keep it for a set period, etc.?)
- What should you do if you and your spouse are divorcing? What are your financial resources? Because many divorcing couples cannot afford to pay two mortgages or double rent, many choose to remain in the same property throughout the divorce.
- What is your projected budget for renting or buying a home if you leave the family home? Consider your current living expenses and get assistance in budgeting for whatyou will require in the future.
- What are your children’s special financial needs, and how do you best ensure they are met? For example, you may want to ensure that 529 College Savings Plans are established or funded by both spouses. Or do you have a special-needs child who willrequire long-term financial support?
- What is the financial advisor’s take on your ability to obtain health insurance?
31. Consult A Real Estate Professional
32. Figure Out Healthcare Insurance
Financial Planning Divorce Worksheet Conclusion