A divorce is plenty stressful all on its own. With the emotional turmoil of ending a relationship and the practical matters of custody, support, division of assets and other divorce-related concerns, you are facing a serious challenge as you begin the divorce process.
But divorce will impact many other areas of your life, as well. In addition to all the changes that could happen with your children and your immediate finances, there are numerous peripheral concerns to deal with, as well.
Before, during or shortly after your divorce proceedings, you should look at:
- Tax Considerations: When to file relative to your divorce, how you file and other important tax considerations need to be considered during the divorce process.
- Estate Planning Considerations: Most people need to update their estate planning documents, change their beneficiaries, etc., after a divorce.
- Emergency contact information: Most people just put their spouses on work documents and other documents that require emergency contact information. These will need to be changed after your divorce.
- Insurance policies: Very few people want to keep their ex-spouse as primary beneficiaries after divorce.
- Bankruptcy considerations: Financial problems and divorce often go hand in hand. If you are considering bankruptcy, it is important to strategically coordinate your bankruptcy and your divorce, to make sure you get the best financial arrangement possible.
Some of these considerations are simple, and other are much more complicated. At any rate, you should make sure you work with someone you trust to help you through the entire process.