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Don't set aside financial goal setting during divorce

Moving through the end of a marriage is a busy time, but it is important for spouses to remain focused on their financial goals. The decisions made during a Colorado divorce will shape the financial futures of both spouses for many years to come. Setting solid goals during the divorce process is important. 

Financial security is usually a top priority for divorcing spouses. One thing to consider is disability insurance for the spouse tasked with making child support or alimony payments. Without that type of coverage, would those payments still be met if an accident or illness occurred? Very often, adding a life insurance or disability coverage is a good way to protect against a negative outcome. 

Another consideration is the cost of education. In virtually all cases, children are considered adults at the age of 18. That means that there will be no continuing child support once they head off to school. Writing college tuition into the divorce agreement is a good idea, and it can help both parents and children plan for college financing. 

These are just two things to think about when it comes to divorce and finances. Colorado spouses may want to hire a financial advisor to assist with structuring the property division portion of the divorce process. He or she can outline the pros and cons of various available options, making it easier to find the right path forward. Having a trusted and accomplished professional to turn to with questions or concerns can make a world of difference in the outcome.  

Source: investopedia.com, "How to Achieve Financial Goals During a Divorce", Rose Swanger, Nov. 22, 2017

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Brandon Ceglian

Brandon Ceglian's practice focus is family law, landlord-tenant law / real estate, civil litigation, criminal / DUI, and collections. View Attorney Profile

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J. Adam Beckman

Adam Beckman’s areas of focus are family law, adoptions and prenuptial agreements, and criminal law/DUI. View Attorney Profile

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Domenic Nicotra

Domenic Nicotra’s practices primarily in the areas of Landlord-Tenant, Family Law, Criminal, Protection Orders, and Civil Litigation. View Attorney Profile

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Daniel J. Zolnikov

Daniel Zolnikov practices in the areas of HOA, debt collections, landlord tenant, civil litigation and construction law. View Attorney Profile