50 BUCKS COUNTY WOMAN
BUCKS COUNTY WOMAN
FINANCE
It’s all in your hands
SPRING-CLEANING FOR MOST WOMEN ENTAILS CLEANING OUT THE CLOSETS, DISCARDING MISMATCHED GLOVES, AND SENDING THE WOOL OVERCOATS TO THE CLEANERS. BUT FOR OTHERS, IT TAKES A MORE PERSONAL TURN. IT INVOLVES REEVALUATING THEIR LIFE GOALS AND RELATIONSHIPS. LOOKING CLOSELY AT WHERE WE ARE AND WHERE WE WOULD LIKE TO BE ALLOWS US TO TAKE ACTION AND MAKE CHANGES. SOMETIMES, THIS AMOUNTS TO JUST FINE-TUNING CAREER GOALS OR OUR EATING HABITS. AND SOMETIMES, IT MEANS EXAMINING OUR MARRIAGES WITH A CRITICAL EYE AND DECIDING THAT DRASTIC MEASURES ARE NEEDED.
Separation and divorce are two of the most challenging and difficult periods that a woman can experience in her life. While many things may still be uncertain, one aspect of your life that you can make sure you’re in control of is your finances.
Financial planning for divorced women is not much different from financial planning for married couples. Several basic elements are the same. The good news: you can make plans and decisions based solely on your needs and goals. There won’t be miscommunication or conflicting ideas. The bad news: it’s all in your hands. Any mistakes will be your own and a poor decision can’t be salvaged by the income or assets of a partner.
The following action plan offers a few things worth considering while going through a divorce.
Find a trusted professional
Now is a good time to consider finding a professional who can help you make sound financial decisions for your new life. To find one, start simply. Ask friends or acquaintances who helped them when they went through a divorce. The attorney who handled your divorce may also be a good source for a referral. It’s important to have someone to help you who has previously assisted or, best of all, who specializes in helping divorced women. Selecting the right financial professional is a critical step. After all, this person will be helping you with the important financial decisions you now have to face. She can also help you determine the financial consequences of losing your spouse’s employer benefits, such as health and disability insurance and hidden tax costs of the choices you make.
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