Divorce & Money

Considering the Financial Impacts of Divorce

Though it may not feel this way at the moment, your life will go on after your marriage ends. The sun will continue to rise, and the bills will continue to arrive in your mailbox. It is critical to understand your current financial situation, the cost of divorce, and the expenses you will have once you move into your post-divorce life so that you can make the most of your future and your children’s futures.

Collaborative divorce affords each spouse the opportunity to take a big-picture look at the financial aspects of their lives and to make the smartest plan possible for the future. With the help of your Collaborative Financial Specialist, here are some of the major factors to consider:

Dividing Assets and Liabilities

What assets would you like to keep? Who is responsible for each debt? Working to assign assets and liabilities is key.

Cash Flow

Creating detailed budgets for each post-divorce household can reduce anxiety over monthly expenses.

Non-Marital Property

Your Financial Specialist helps couples understand the nature and value of non-marital assets and how they might be divided.

Family Support

Child support and spousal support can be resolved through the collaborative process, without fighting in court.

After-Tax Income

Wise use of the tax code can actually help you transition from one household to two.

Questions About Divorce Finances?

Reach out to Collaborative Divorce Minnesota, in Edina, with any questions you might have by calling 952-405-2015, send us a message using the form on our contact page or email us directly at judith_h_johnson@hotmail.com.We serve the Twin Cities metro and Greater Minnesota.