This four-part article series explains the many financial pitfalls associated with divorce and how women can best avoid them through careful research and the right planning.

1. Investment Advisor News, Del Mar: The 8 Possible Financial Consequences Of Divorce And How To Avoid Them, PART 1
“50%offirst,67%ofsecondand74%ofthirdmarriagesendindivorce,”saysJenniferBakeroftheForestInstituteofProfessionalPsychologyinSpringfield,Missouri.
Thesemayseemliketerribleanddepressingstatistics,buttheyhighlightjusthowimportantitisforwomentomakefinancialprovisionsintheeventthattheirmarriagetoobecomesanotherstatistic.So,ifyoufindyourselfinapositionwhereyouareconsideringdivorce,itiscrucialthatyoubeginmakingplansanddoingthenecessaryresearchtoequipyourselftofacetheimpendingandpotentiallyroughfinancialtimes.
Inthisfour-partarticleseries,Iexplore,withthehelpofsomeinvestmentadvisorsinDelMar,the8possiblefinancialconsequencesofdivorceandhowyoucanavoidthemwiththerightplanning.
Consequences of Divorce # 1: Empty Pockets
Ifyoulamentedthecostoflivingbefore,thingsareabouttogetawholelotmoreexpensive!
“You’ll likely find yourself dipping into your savings to foot the cost of your legal bills,” warn Del Mar financial advisors.

2. Thenthere’sthecostofmovingout,gettinganewplace,seeingapsychologistandthatexorbitant“accidental”retailtherapysessionatOscardelaRenta.Divorceisnotonlyachangeofmaritalstatus;it’sawholeliferevolutionandmoneyisneededtofacilitatethischange.
What You Should Do
Ifyouforeseeyourmarriageendingindivorce–whetherit’swhatyouwantordon’twant–doNOTsitaboutmoping.Youneedtostartsquirrelingawayfundstosustainyouthroughtheexpensiveaftermath.
Consequences of Divorce # 2: Being Ill Prepared
Endingarelationshipwithaspouseisonething:asingleconversationthatcantakeplaceinaslittleasanhour.It’swhathappensafterwardsthatcantakemonthsandevenyearstosortout.Thisiswhycarefulplanningissocruciallyimportantifitlooksasthoughyourmarriageisgoingtoendindivorce.Beforeyoudropthefigurativeguillotineonyourhusband’shead,dosomethoroughresearch.ChatwithalawyerandyourDelMarfinancialandinvestmentadvisoraboutwhatyouneedtodoandwhatyouneedtomakeprovisionsfor.

3. Timingisalsoimportant.Ifyourhusbandisdueforapromotion,bonus,inheritanceorraise,youmaywanttowaituntilhereceivesitsothatyoutoocanbenefit.Ifyou’reafewmonthsawayfromthe10-yearmark,patienceandsocialsecuritycanrewardyouwithyourpartner’searningrecord.Thismaysoundunscrupulous,butjustashehasgivenuphistimeandenergyearningthatincome,raiseorbonussotoohaveyou.
Whetheryouspentyourtimeraisingyourfamily,tendingtothehouse,intheofficeorallthree,youareateamandallofyourassetsshouldbesharedaccordingly.
Takethetimetocompletethethingsthatneedtobedonebeforethefinancialandemotionalturmoilhitsatfullforce.Whileyoustillhaveaccesstojointfunds,takethecarinforafullservice;perhapsgetsomenewtires.Buythekidstheclothestheyneedandtakethemtothedentist.Bookyourselfafewappointmentswithatherapist, yourfinancialadvisorandperhapsalawyer.Thiskindofplanningcansaveyoualotofmoneyandalotofhasslepost-divorce.
What You Should Do
Stay Tuned for Part 2
Notsortingoutyourdocumentsandoverlookingassets…Toreadmoreaboutthepossiblefinancialconsequencesofdivorceforwomen,staytunedforthesecondinstallmentofthisfour-partarticleseries.