Category : Property Division
Divorce, property division can impart powerful lessons
Any large-scale life event brings with it a chance to learn a range of lessons. In fact, a great deal of our knowledge and understanding comes from having gone through difficult experiences. We learn from the good choices that we make, as well as from the decisions that we would like to forget. Divorce and property division are no exception, and savvy spouses in New York will take advantage of the opportunity to learn and grow from the experience of moving beyond an untenable marriage.
The division of marital property is one of the most difficult aspects of any divorce. This can be especially true for spouses who played a minor role in managing the family’s financial matters. It can be intimidating to delve deeply into the assessment of family income, assets and debt. However, doing so can lead to a far greater understanding of what one’s financial future will look like moving forward.
Many parents worry that they will not be able to provide their children with the same level of support and attention after a divorce has taken place. By focusing on the property division portion of a divorce, it is possible to gain a clear estimation of what one’s budget will be in the months and years to come. If that budget seems insufficient to meet the needs of the divided family, adjustments can be made during the property division process.
Most New York parents find that they are more than able to provide the love and care that their children need, even after divorce has altered the family structure. The property division process can ease many of the fears that accompany divorce, as it gives spouses the chance to fully understand their available resources and the need to create a budget for future expenses. Often, financial education is one of the most powerful lessons that can come with the end of a marriage.
Source: The Huffington Post, “14 Invaluable Life Lessons Learned From Divorce“, Brittany Wong, Aug. 4, 2014