Divorce and Personal Finance

MoneyWatch for July 2009
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What happens when I do turns to I don’t? Each year there are nearly one million divorces in the United States (about 50% of all marriages).  During these tough economic times with more people losing their jobs and facing uncertainty, the effects on relationships can be devastating, often leading to divorce.  If it comes to that, the decisions you make now, can significantly affect you financially in the future. How will assets and debt be divided? How will support be paid? And now it’s not just who is going to keep the house, but what the house is still worth can be critical to both parties involved. If you find yourself in this situation, there are resources available.

Get help at Total Divorce and their 24-hour helpline: (877) 349-1310

More resources
Association of Divorce Financial Planners
DivorceNet: Divorce and Your Finances - The 7 Most Costly Mistakes
Divorce Finances: Divorce and Separation
Financial Solutions For Divorce

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Research assistance for MoneyWatch is from Cleveland State University Nance College of Business Administration. Information on the Nance MBD program is available here.