22 Tips to Transform Your Financial Life After a Divorce

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As a divorce financial adviser, I'm often brought in to work with clients who are still going through a split, but I'm just as often brought in afterward. Newly single clients are typically concerned about their finances and want to make sure they have enough for their immediate needs, and that they'll have enough when they retire. Even my very wealthy clients -– those with millions of dollars after a divorce –- have the same nagging questions and fears keeping them up at night.

To help them, I've developed this divorce financial checklist.

Considering that many divorce proceedings last a year or longer, once the marital settlement agreement is reached, you may want to take a long break from paperwork, lawyers or even thinking about your finances. That's a normal reaction. But resist it: There are some things you need to examine soon to make sure you're protected and on the right track financially.

So go through this checklist to be sure nothing has slipped through the cracks. Once you're done, you'll have financial peace of mind -- and you'll be able to sleep like a baby.


Robert Pagliarini is a best-selling author and wealth manager who focuses on sudden wealth recipients. Connect with him on Twitter at @rpagliarini.

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Richard

Or, better yet don't get married in the first place!!

July 29 2014 at 10:05 AM Report abuse -1 rate up rate down Reply
vladimir

cancel joint accounts, wow, these writers are intelligent, why did I forget to cancel ours . . . . .

July 29 2014 at 2:15 AM Report abuse rate up rate down Reply
anthony.fama@aol

Pre nups

July 28 2014 at 11:54 PM Report abuse +1 rate up rate down Reply
ted_wilson7

If a guy has been married and divorced 2 or more times………some advice…The next time you think about getting married, find a woman that you hate and just buy her a house.

July 28 2014 at 4:44 PM Report abuse +4 rate up rate down Reply
lightyrs1

I feel sorry for the men who are going through this.

July 28 2014 at 3:25 PM Report abuse +1 rate up rate down Reply
Valerie

Oh, here we go --- labeling ALL women as "ruthless witches" conniving to fleece an unwary male for everything he has of any value.

I figured that this article would draw embittered divorced men to comment on it --- and it has.

FYI, guys --- it is more often the WOMAN who has her life destroyed by divorce. The male walks away with his much larger earning potential intact and CAN rebuild his life.

Judges usually favor awarding custody of any minor children to the female. This means the ex-wife will be on the hook for all the expenses of child raising. Even if there was a decree of child support to be paid, many men will fail to pay it. Alimony payment is not common, any more --- except for those splashy celebrity divorce cases you read about on the internet.

Anyone, who has ever experienced a divorce, knows from personal experience that it is truly "crazy time". Divorce can be --- and usually is --- a tragedy for both the husband and wife involved in it. Their family unit is shattered. And, unfortunately, the children they had together are the ones who REALLY end up "paying the bill" for that.

Divorce creates emotional trauma that takes a long, long time to heal. If, indeed, it ever does.

July 28 2014 at 12:42 PM Report abuse -1 rate up rate down Reply
3 replies to Valerie's comment
SPQR

Even Paul McCartney of the Beetles thought if he married a one legged woman that she would be loyal. She planned from the beginning to get his money so beware !!!!! and maybe you won't have to deal with these steps after the divorce!!

July 28 2014 at 11:55 AM Report abuse -2 rate up rate down Reply
1 reply to SPQR's comment
SPQR

I think he tried to get custody of her leg !

July 28 2014 at 4:24 PM Report abuse -1 rate up rate down Reply
SPQR

SOund advice! If you get remarried just leave everything the same and never put your new spouse on anything or any account

July 28 2014 at 9:32 AM Report abuse -1 rate up rate down Reply