Divorce and separate housing

  Posted on September 24, 2021
divorce financial mediation

During divorce, living in the same house is very stressful.  Before one spouse moves out, it is recommended they both carefully review the family expenses to ensure there is sufficient cash flow to afford 1st/last months rent, two cable bills, electric bills and the other expenses.

I met with a couple yesterday who are contemplating divorce.  Wife told me she wanted to move out immediately and rent an apartment.  Husband had created an expense worksheet with about 20 items and he thought he had figured out everything for a settlement.  I explained that a thorough expense worksheet should have about 140 items.  He acknowledged his worksheet was not complete and I suggested they complete my expense worksheet before she decided to move out.  Since he is the bread winner, he could likely afford to pay his separate expenses but, Wife only worked part-time and would incurr credit card debt to make ends meet.

Divorce is a difficult time and I don't encourage making hasty decisions when you are not think clearly.  It is best for a family if they understand their financial reality before they make decisions based on emotions.

Posted in: Finances, Debt