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RISING WOMEN EXPERT
ADVICE...
What steps do I need
to consider for my separation and divorce?
There are many considerations to be made when facing separation and divorce.
Of course everyone’s situation is different, however typically there are
three main steps to be addressed: 1) Before you call your lawyer; 2)
Preparing the agreements such as dividing assets and children or spousal
support; and 3) Your new chapter and fresh start.
First, when you realize that the possibility or inevitability of divorce is
looking in your window, you can take many steps to prepare for the
situation. Make sure you are safe and your children are protected if
necessary. There are many resources at your disposal if needed. You can also
do a lot of preparation by gathering as much information from as many
sources as possible. Basically, you’ll need documents that record your
assets and liabilities. Be sure to make copies for yourself. It helps if you
have records of where your money is being spent, especially if you will need
child or spousal support. It is a good idea to keep a journal and may be
wise to engage professionals like Family and Marriage Counsellors for the
emotional support you may need.
The next step can be daunting, especially if you do not have financial
knowledge. This is where you should get professional assistance for creating
Net Worth Statements, Income and Expense Statements and budgets. If you are
prepared, the “Division of Assets” can go much smoother. You can save time,
stress and money by having the basics in place. It’s about starting to
consider what you will need and want once you are on your own. Get educated!
Child and spousal support can be a huge issue and this is where lawyers
should be consulted. Never put your children in the middle or use them as
bargaining tools. Your divorce has nothing to do with them. Be respectful to
their other parent when the kids are present. It will affect them for the
rest of their lives! You should look at what the protection insurance can
provide, especially if support payments are involved. Get advice!
Now you are on your own. You will face many emotions - good, bad and
indifferent. At this time, you need to move forward with your new chapter
and fresh start. Begin with a new plan for yourself. Include all facets of
your life. Set some goals. It all takes money, so sit down with a
professional to get your financial plan prepared so you can enjoy life
ahead!
For more expert financial divorce advice, contact Wendy Olson-Brodeur,
FDS, CFP, CSC at 403.873.0292. Visit
www.tfds.ca to learn more
about her specialized services. |
