24 Dec REBUILDING LIFE AS A SINGLE MOM AFTER A COMPLEX DIVORCEPosted in High Asset Divorce
For women navigating a divorce, it is important to seek and secure a settlement that protects long-term interests and well being. This is especially important for women who will be caring for children after a complex divorce is finalized. When certain financial issues are properly addressed, an Illinois reader can build a foundation for a solid post-divorce future.
One of the most important issues that must be addressed in a divorce is determining living arrangements after the final order has been signed. There is often a question of who will remain in the marital home. If the property is to be sold, how will the profits be divided? Payments and tax consequences should be considered, and a single mom should not be left with a financial burden that she cannot effectively manage.
If a mother is the lesser-earning spouse, alimony may be granted. This support is based on many factors, including the length of the marriage, the income of both spouses and other special considerations. With the help of an Illinois lawyer, a single mother can pursue an alimony order that is fair and reflective of her needs. Other important matters that should be considered is credit card debt, taxes and student loans.
Every decision made during a divorce will have a significant impact on a mother and her children for years following a divorce. Every financial matter must be thoughtfully evaluated, and decisions should be based on long-term interests, not just emotional victories. A single mom may have a hard time navigating a complex divorce, but she does not have to face it alone.
Source: popsugar.com, “Financial Advice For Newly Single Moms“, Laura Lifshitz, Dec. 23, 2015