divorce and your finance

<p>Separating or getting a divorce is a difficult time for any couple and the daunting prospect of splitting the money is often left as the last thing to think about.</p> <p>The best way forward is to sit down with your partner and talk your way through the situation. If this isn’t possible as with, any cases having some sort of communication via email, text or another person is always a good option.</p> <p>Firstly, you need to address the immediate financial situation and costings. You both need to focus on how you are going to maintain yourselves post-divorce. How are you going to pay bills? You’ll need to avoid getting into debt and work out how you’re going to sustain your life style.</p> <p>Second you need to plan how and who is covering the cost of the divorce. It’s inevitable that both of your standards of living will drop as show my previous studies, and this is obvious since you’ll both be maintaining two families from a single income instead of one family from a joint income. A good way to start looking at how to cover your costs it to work out your expenditure.</p> <p>This will take you a while to figure but once you have it you will be horrified with the amount you spend as with most people. But from there you can begin to work towards what you need and what you don’t.</p> <p>Apply to your local council for a single person’s discount, so that you can get 25% off your council tax. This will help greatly in cutting back your costs.</p> <p>Next step, think about the children if there are any. Its best to decide amongst yourself who is going to pay what but if the solution is not to your liking you can always reach out to lawyers and solicitors who can help with the financial settlement.</p> <p>The maintenance of the other spouse can continue to up till the point the other spouse gets married and may be lessened is they cohabit with another. This is because of the join income.</p> <p>Child maintenance has to be provided till the child leaves school, or turns 18. Maintenance could also continue if the child goes to university, but this is a very rare scenario.</p> <p>If you wish to seek any legal advice around divorce, or simply want to know more, don’t hesitate to call our team on: <strong>0116 2999 199</strong> or alternatively you can email us at: <strong>info@d-w-s.co.uk</strong></p>