Dealing with the Financial Impacts of Divorce
Arguably the most devastating cost of divorce is its effect on the family, but divorce can also very costly financially. Some researchers estimate that divorced spouses would, on average, need more than a 30% increase in their income to maintain the same standard of living they had prior to their divorce. Knowing your rights and obligations and ultimately how best to protect yourself can make it less expensive and perhaps a little less painful.
What are Your Financial Obligations: Child Support and Alimony
If there are children involved, their well-being should be both of the parent’s primary concern. Unfortunately, this is not always the case. Former spouses paying sometimes feel that the custodial ex-spouse is “squandering” the child support money, or that the mandated child support is exorbitant. Though child support payments are calculated by the state in which the divorce was granted, most state guidelines attempt to…Read the entire article by Deborah Fowles on TheBalance.com