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Divorcés must deal with expenses as single individuals

On Behalf of | Aug 12, 2019 | Divorce

In Arizona and across the United States, the end of a marriage is often a negative psychological experience surpassing most emotional upheavals. After a divorce is finalized, legal issues can harm a spouse’s financial state of affairs. A person who does not view the settlement with a focused mind may discover that it is impossible to live alone. Couples who divorce after being involved in lengthy marriages may face even more devastating financial circumstances.

Living as a single person is expensive. Many divorced individuals find that living by themselves costs more money than when they lived with their spouses. Consequently, it is important to have a good comprehension of all monthly expenses, including the mortgage, utility bills, medical bills, household repairs and entertainment. In cases where one spouse was the person paying for all the expenses, the other partner may find it difficult to make ends meets. Financial experts advise divorced individuals to look at their immediate needs.

For instance, a divorced person may need to buy a new vehicle or find another place to live. If the couple shared a health insurance policy courtesy of the ex-spouse’s employment, the uninsured divorcé must now obtain coverage. Plus, the person may need automobile insurance and a homeowners insurance policy. Everyday expenses like groceries may provide a problem for an unemployed individual who does not have a savings account. The best advice is to study the list of expenses and create a financial plan.

A person contemplating divorce may want to set up a consultation with a divorce lawyer before submitting documents to the court. A divorce lawyer may help make common sense out of child support and spousal support issues. A divorce attorney may work to create an amenable settlement agreement.

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