What Men Need To Know About Finances During and After Divorce

When it comes to divorce, men in Georgia, Georgia, need to know just how they will fare financially at the end of the dissolution process. Perhaps the most important aspect of this is property division.

First, men need to understand that a divorce does not have to be costly. By being upfront in revealing all finances and assets, by properly identifying what is and is not marital property and by keeping lines of communication with a spouse open, men going through a divorce do not have to experience financial strain that lasts for a long time afterward. The costs can be even lower, even with filing fees, if a couple does not have children.

Second, consider alimony a reasonable price to pay to make sure both spouses leave a marriage without undue financial hardship. It is understandable that one or the other might resent paying alimony, but consider the tax advantage: alimony is tax deductible. And these days, increasing numbers of women are also required by courts to pay alimony if they have more income and have provided a larger contribution to a couple's lifestyle. Men should neither resent this nor feel insecure. Spousal support can be of considerable help in getting one's new life on track.

Third, create a post-divorce budget. Calculate everyday expenses with alimony and child support -- whether paying or receiving. Bear in mind that expenses change when a person is no longer married; some costs are lower, and some are higher.

Regardless of gender, post-divorce finances can be challenging and complex, especially when considerable assets and property are involved. For this reason alone, securing good legal and financial advice can make a significant difference during negotiations over assets and property, making them run more smoothly and more amicably and with an eye toward a fair and equitable resolution.