DivorceSettlement - Key Considerations and Next Steps
Divorce can be one of the most emotional events a person will ever go through, yet there is much to know about how to negotiate before divorce, or how to go forward with your life after divorce.
If you’ve received a divorce settlement, how do you proceed?
What does that look like, and how does it feel? You just finished fighting for your property that belongs to you because it is part of your marriage settlement. Breathe! Relax!
Sample Divorce Settlement:
Sandra & Bill divided their properties and both ended up with equal assets. Both have to figure out were they are going and what to do next.
- You have $350,000 401K retirement transferred to you through a QUADRO
- Brokerage account divided and have $150,000
- Decided to sell the residence and pay off the loan with no debt and you were able to end up with $300,000 of proceeds.
Now is the time to decide what to do next. What do you need and what lifestyle do you want?
Here are some sample next steps:
- Avoid Hasty Decisions.
- Figure Out What You Have. ...
- Set Goals. ...
- Hire an Advisor. ...
- Keep Your Guard Up. ...
- Control Your Access to the Cash. ...
Key divorce considerations:
Do you need to change jobs, buy a home, get a car and start planning your future? You may need to get health insurance and if you have children what do you need to do to stabilize your life and theirs?
You may wonder how do I make the funds last and what’s the best use of time and assets?
Not sure how to proceed?
Talk to a Certified Financial Planner® and map out the process.