Managing Finances After Divorce

March 28, 2024

Deciding to divorce is a significant step that can unleash profound emotional consequences. Whether a marriage spans a short period or several decades, the aftermath of dissolution can be immensely distressing. Various factors come into play, including how to broach the topic with one’s partner, arrangements for any children involved, and the looming financial uncertainties.

For many individuals, the economic aspect looms large in their decision-making process. While financial issues can lead to relationship breakdowns, they also serve as a tether keeping some couples together. The dilemma of whether to endure an unhappy marriage for the sake of financial stability is a common struggle.

It’s Normal to Cope with Divorce

Women stressed

Despite the age-old adage that money can’t buy happiness, the reality is complex. If staying in a deteriorating marriage jeopardizes mental and emotional well-being, no amount of financial security can salvage the relationship.

Nevertheless, apprehension about post-divorce life is natural, especially concerning financial matters. Concerns about housing, childcare, sustenance, and maintaining one’s standard of living often preoccupy individuals contemplating divorce. Particularly for those who are financially dependent on their spouse, worries about affordability during and after divorce can be overwhelming.

The financial burdens associated with divorce are undeniable, encompassing court fees, legal expenses, and the general strain of the process. However, there are strategies to alleviate these burdens. Opting for non-adversarial methods such as mediation can mitigate legal costs and emotional strain.

Ease the Transition with Legal Counsel

Hiring a Lawyer

While some couples may choose a DIY approach, seeking legal counsel is advisable, especially concerning financial matters.

In cases of financial insecurity during divorce proceedings, avenues such as legal aid or interim financial consent orders can provide relief. It’s essential to approach the situation with rationality, understanding the financial expectations and potential support available, especially for the financially weaker party.

Anxieties about post-divorce financial stability often persist, despite legal provisions for equitable distribution. Seeking legal advice can clarify entitlements, potentially offering reassurance. Concerns about maintaining a certain lifestyle or providing for children may weigh heavily, but prioritizing a positive environment over material possessions can alleviate some of these worries.

Navigate Divorce with a Lending Hand

Fortunately, support networks exist to assist individuals navigating financial concerns before, during, and after divorce. Seeking guidance and support can alleviate anxiety and remind individuals that they are not alone in their struggles.

By Ronald G. Lieberman

Ronald G. Lieberman is a seasoned attorney with nearly 25 years of experience in all aspects of family/matrimonial law including divorce, child custody, child support, alimony, domestic violence, equitable distribution, college expenses, marital settlement agreements, high-end family and matrimonial litigation, and appellate matters before the Appellate Division.

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Gillian
Divorce & Restraining Order
Lexie has been my attorney since 2018. I retained her when I filed for divorce and again when I needed to obtain a restraining order. She is the best of the best. She is professional, honest, and thorough. I would highly recommend her.
February 15, 2022

Gillian
Divorce & Restraining Order
Lexie has been my attorney since 2018. I retained her when I filed for divorce and again when I needed to obtain a restraining order. She is the best of the best. She is professional, honest, and thorough. I would highly recommend her.
February 15, 2022

Gillian
Gillian
Anonymous "J"
Do yourself a favor and hire Alexandra
Alexandra came as a recommendation from an attorney friend and she was spot on. Alexandra kept me informed through every step of the process during such a difficult time in my life. She explained things in detail and always had my best interest in mind, even when I may not have realized it. As my title says, do yourself a favor and hire Alexandra.
September 7, 2022

Anonymous "J"
Do yourself a favor and hire Alexandra
Alexandra came as a recommendation from an attorney friend and she was spot on. Alexandra kept me informed through every step of the process during such a difficult time in my life. She explained things in detail and always had my best interest in mind, even when I may not have realized it. As my title says, do yourself a favor and hire Alexandra.
September 7, 2022

Anonymous "J"
Anonymous "J"
Ryan D.
True 5 star Lawyer
Alexandra is by far the best lawyer I retained. She did not waste anytime with me or try and drag out the situation for more money. Straight and to the point. Alexandra knows the facts that count for your case and is prepared and ready to fight every inch for you. She also is passionate and listens to you in completely so she can better understand what you are going through. I absolutely recommend Alexandra Kardon Rigden for family law or a DV case.
May 5, 2022

Ryan D.
True 5 star Lawyer
Alexandra is by far the best lawyer I retained. She did not waste anytime with me or try and drag out the situation for more money. Straight and to the point. Alexandra knows the facts that count for your case and is prepared and ready to fight every inch for you. She also is passionate and listens to you in completely so she can better understand what you are going through. I absolutely recommend Alexandra Kardon Rigden for family law or a DV case.
May 5, 2022

Ryan D.
Ryan D.

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