OFTEN-FORGOTTEN EXPENSES IN DIVORCE PLANNING

It’s hard to accept that your divorce is going to cost you more than you expect but this is often the case. There’s usually an unexpected issue that may bring on a major fight over, or cause your attorney to spend extra time researching or hammering out. It’s difficult to get an idea of where your expenses might come from but there are some essentials yet usually forgotten aspects of divorce that you should keep in mind.

1. Health Insurance

Were you previously covered under your spouse’s plan? Typically, married couples will select the spouse with the better plan to carry the health insurance for the family. If you end up divorced and you were counting on your spouse for coverage, you’re likely going to get dropped once the decree is issued. If children are involved, you’ll need to discuss in your case whether one parent or both will continue to provide coverage. Just getting started with your divorce? Start shopping around for options so that you aren’t caught uncovered or unprepared in the event of a medical emergency.

2. Taxes

Most married couples have one spouse file the taxes while the other simple provides a signature when tax time rolls around. Once the marriage is over, you’ll be filing your own taxes. If you are getting child support or alimony payments, those will need to be included on your taxes. Trying to sort through the tax mess if you are not familiar with the details can feel overwhelming, so you may need to hire an accountant to help you. Make sure you have your own copies of all relevant documents and that you update your contact information with all the places you have assets once the divorce is over.

3. Family Cellphone Plans

It might be the last thing on your mind, but you could be dropped from the family cellphone plan if your spouse was paying for it. Discuss options with your spouse to give you the opportunity to get a new number or roll yours over to a new plan or carrier. While you’re thinking about all your family plans, don’t forget about gyms, country clubs, warehouse stores, and other places where you are likely to sign up as a family. You’ll need to update your membership or possibly obtain your own, depending on who was responsible for those plans. It’s a lot to think about, but you may have to invest some money to get yourself set up. https://www.afairway.com/