Once a divorce has been finalized, a new life will begin for spouses, their children, and many family members. Some may find relief once their divorce is through. Others may be faced with numerous concerns and worries, some of which they had never had to endure before, especially for stay-at-home mothers. Divorce can be not only an emotional strain but financial as well, as they look for ways to support themselves and their children in new circumstances.
Here are some pieces of advice from Coker, Robb & Cannon, Family Lawyers:
Create and Stick to a Budget
Familiarize yourself with all of the financial resources and support systems around you. How much income are you currently bringing in? How much does it cost to support yourself and your children?
Consider the following:
- Bank accounts
- Your income vs. expenses
- Your assets vs. debts
- Tax information
- Titles and registrations
By creating a budget that can satisfy your and your children’s basic needs, you have a more thorough understanding of what type of financial support you will require. This is useful in settling terms such as child support, spousal support, and other financial settlement agreements.
Finding Employment After Divorce
Being a stay-at-home parent can be a full-time job. After spending a few years caring for your children, however, you may be thinking about embarking on a job search or resuming a career, especially if your financial circumstances are changing due to a divorce.
These are some of the ways you can prepare yourself for the search:
- Take training courses or return to school
- Add newly gained skills or build up your existing skillset
- Update and revamp your resume
- Try work-at-home opportunities
- Start making connections that may help you re-enter the workforce
In the meantime, while you are on the job hunt, think about how you will live once the divorce is finalized. For example, do you have savings or assets that can last at least six months? The change to living as a single wage earner is dramatic, and planning ahead can provide a cushion for any bumps in the road along the way, especially since finding a job right away can be somewhat difficult.
Compassionate & Caring Legal Support
At Coker, Robb & Cannon, Family Lawyers, our Denton and Collin County divorce lawyers are compassionate towards our clients’ cases. We know that divorce can be stressful, and many attorneys do not focus on their clients once the process is completed. You need a legal team who cares about your well-being every step of the way—and we can provide that for you.
You can schedule a case consultation with our divorce attorneys by filling out our online case evaluation form or giving us a call.