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Don't get blindsided by these common divorce expenses

When a Colorado spouse is considering ending his or her marriage, financial matters are often a top priority. The financial landscape for both spouses will invariably change once a divorce is made final. Being able to correctly anticipate and plan for those changes is the key to achieving financial stability in the months and years to follow.

One thing to consider is the impact that alimony and child support will have on one's personal finances. The spouse who is tasked with making those payments must factor that expense into his or her projected budget. As for the spouse who will be receiving alimony or child support, planning for how those funds will be spent, saved or invested is an important consideration.

Another issue involves the need to secure new insurance after divorce. Very often, one spouse has been able to enjoy health insurance coverage based on the employment benefits of his or her partner. Once the divorce is final, those benefits will come to an end, and it may be necessary to secure new insurance as an individual. Many couples also share auto insurance policies, which can be far less expensive than individual coverage, even with the same insurer. Shopping for new insurance is something that should occur in the early stages of divorce, so that each spouse can address any additional expense as soon as possible.

These are just some of the financial changes that are commonly associated with a Colorado divorce. As with any financial matter, being fully informed is the best way to make a good decision. Planning for the future is a process that should begin even before a divorce is filed, and should extend throughout that process and beyond.

Source:, "Getting a Divorce? Avoid Getting Blindsided by These Unexpected Costs", Sam Becker, July 23, 2017

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