Will Your Finances Ever Get Better After Divorce?
Here in the land of toxic positivity, where soccer moms enthuse about their latest multilevel marketing business opportunity, even as their bank accounts are overdrawn and their husbands are cheating, we would do well to acknowledge our sadness. What is the point of calling a funeral a celebration of life? It doesn’t change the fact that the guest of honor is dead. You might as well call it a bucket list after party. There is consolation, though, in seeing all the other people who loved and lost the same person that you loved and lost. If you are going to have a party to commemorate your divorce, then go for it, but don’t pretend that you feel the same way you felt at your bachelor or bachelorette party. Even if it is a relief that you are no longer married to your spouse, you must still move forward with only a fraction of the marital property, and the share of marital debts that the court assigned to you is your responsibility alone. For help strategizing about how to move forward financially after your divorce, contact a Birmingham divorce lawyer.
Does the Post-Divorce Financial Glow Up Exist?
Almost everyone takes a financial hit in divorce. Recently divorced women are, on average, 45 percent poorer than they were when they were married, and men are, on average, 21 percent poorer. Even years after the divorce, most people do not recover all the wealth that they amassed as a couple. Instead, they find a new normal. Divorce will show you whether you were right to blame your financial struggles on your spouse’s expensive tastes. If your spouse really was the one who wrecked your finances, then after you divorce, you will be able to live at a standard acceptable to you, or at least to make decisions about spending that are acceptable to you. More often, though, people’s financial problems are not just one person’s fault. No matter how much of a shopaholic your ex-spouse was, it is not her fault that groceries cost as much as they do.
Why Do So Many Recently Divorced People File for Bankruptcy?
The good news is that everyone, regardless of marital status, has the right to file for bankruptcy protection if they cannot afford to repay their debts. It is easy to understand why recently divorced people make up such a large share of bankruptcy filings. Filing for bankruptcy can help you discharge the medical debts and credit card debts that you couldn’t repay when you were married and cannot repay now. It does not enable you to discharge alimony, child support, or money that you owe your ex-spouse as part of your divorce settlement, but it can free up funds to pay those obligations.
Contact Peeples Law About Coping With a Financial New Normal After Divorce
A Birmingham family law attorney can help you approach your post-divorce finances with a sense of clarity and self-acceptance. Contact Peeples Law in Birmingham, Alabama today to schedule a consultation.
Source:
msn.com/en-us/lifestyle/marriage/how-women-can-turn-a-gray-divorce-into-a-financial-win/ar-AA1EkCa2?ocid=msedgntp&pc=ACTS&cvid=d502716e55e74ebfbe3aa9168810c378&ei=13
