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A divorce doesn’t end on the day the paperwork is filed and certified. As much as some would like the difficult matter to end there, many divorcees (and some attorneys) do not take long-term planning into account if the separation plan did not explicitly call for it.

Even after going through a difficult time in their life, every divorcee deserves the ability to recover and thrive in their new life. As such, they need to take the following issues into account when planning for short-term and long-term life changes post-divorce:

Issue #1: Changes in Economic Stability

A divorce can have an acute effect on both spouses’ economic stability. This is doubly the case for the spouse who makes less money or is not working due to unemployment or disability.

For example, recent statistics show that nearly 27% of divorced women fall under the poverty line, making their economic stability acutely uncertain. Knowledgeable attorneys should be prepared to request alimony payments that allow their client to move towards financial independence long-term.

Likewise, proper long-term financial planning must be worked into the divorce plan to ensure each party is able to land on their feet — even five, 10 or 20 years from now. Your attorney should take into account long-term impacts on savings cushions and retirement plans, too, regardless of your current age.

Issue #2: Major Asset Expenses

Depending on the circumstances of your divorce, you may end up with a major asset – such as a house – that requires a considerable amount of financial resources to upkeep long-term. This may be difficult to do on your single income, so it’s also important to properly attain extra financial considerations to cover upkeep.

Nearly one-third of divorced couples have some type of major asset that must be divided as part of their divorce settlement. While you may eventually become the majority beneficiary of such a division, it is well worth your time to speak with an attorney who takes a holistic approach and helps you financially plan for future asset upkeep costs.

Issue #3: Necessity of Modifications

Either due to changing circumstances or non-compliance, modifications to short and long-term divorce plans may eventually become necessary. Proper short-term planning should take this possibility into account, allowing a spouse to maintain leverage and petition for changes that preserve their interest

Your attorney should be prepare to petition for such changes — for example, if you lose your job unexpectedly — allowing for better long-term economic and emotional stability.

Planning for the Short-Term and Long-Term

When it comes to divorce, you need a knowledgeable team of attorneys who can account for the short-term and long-term effects of your divorce. Contact the Law Offices of Jacob D. Geller, where specialized family law experts will analyze your specific situation in order to preserve your emotional and financial stake. This blog does not constitute legal advice. Please contact our office for further information.