What NOT to do During Your Divorce

Posted by Christina Gregoire Jul 23, 2009

Here is an article about what NOT to do during a divorce. If you are filing for divorce or if you think your husband or wife is going to a divorce lawyer, you should check out this article.

I really wish I had used a divorce financial planner because I had no idea how much things really cost in the real world or how high taxes were. When I was single, I only made minimum wage. When I was married and worked, my husband paid my taxes for me and I got to keep my income for mad money. He took care of the finances. I couldn't have told you what a gallon of milk cost if my life depended on it.

And, my life did depend on it. Well, my life-style did depend on it. I didn't realize how much of a burden it would be that my alimony / spousal support was taxed. I had to dig into my IRA and take out pre-tax money, which meant that I had to pay taxes and a 10% penalty on the money from my IRA.

I was in a higher income bracket when I was on alimony. And, the taxes were terrible. Then the taxes on my modest (in a ritzy neighborhood) house were rediculous. I ended up selling the house. Anyway, consider going to a financial planner to give you a good idea of what your life will be like after the divorce. It's really a good idea.

And, all you women getting a divorce. Take the documents to KINKO's and make copies as soon as possible. My friend got shafted in her divorce. Good luck. Click this for the article about Financial Mistakes During Divorce.

Learn from my mistakes.