Financial Help In Divorce

The Importance of Financial Advice During Divorce

Eva Sachs

Eva Sachs

Certified Divorce Financial Analyst - Toronto ON

Will I Be Financiall OK After My Divorce?

Divorcing is just hard – and it usually comes down to kids and money. On top of worrying about your family, one of the biggest concerns people have is wondering if you will be okay financially after divorce. 

Divorce Financial Questions

Many couples who are facing  divorce have the following pressing questions:

  • Will we have to sell the house, or can  one of us keep it? 
  • Will I qualify for a mortgage on my own? 
  • Do we have to stop  kid’s activities? 
  • Will I have to go back to work? 
  • Will I need to push out my retirement date? 
  • How much worse off will I be after divorce?

Common Financial Mistakes During Divorce

When a decision is made to divorce, most people want to get to a settlement that works for them. From my experience, what is often missing is financial advice and financial expertise.

Fear of an uncertain future often makes divorce more difficult than it has to be. Divorcing clients fear their  future, while legal discussions deal with what is “now.” And when two households now have to live on the same income that previously supported only one household, the importance of divorce financial planning becomes obvious. 

There are common financial mistakes make when facing divorce. Of course it depends on each situation, but what I can tell you is that if you get divorce financial advice before you sign off on your separation agreement, you stand a much better chance of getting through your divorce arriving at a settlement that works for all.

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