Divorces are a financial strain on your family because they divide you and your spouse’s cumulative assets (lawyer’s fees aside). In this economy, where assets are quickly turning into debts, it is critical to understand the financial consequences of a divorce and how to make the most out of its aftermath. A divorce divides one family unit into two separate units. When one spouse moves out, there will be one more mortgage or rental payment to make. Having 2 separate families also means twice the living expenses, including, but not limited to: health insurance, car payments, and all the children’s needs in the separate households.
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