Divorce is an uncertain time in life. Foreseeing your circumstances beyond marriage can be difficult when life with your spouse is what you’ve known for the past 20 or more years. Emotions are running high, and you’re worried about your finances. What can you do to relieve some of the stress you are feeling?
If there’s one thing you know about life after divorce is that it will be simpler. You will be single; you may be downsizing your home and your budget too. Your savings and assets will be divided; you will be on your own in life once again. While one can be a lonely number, you shouldn’t get lost in the space you foresee in the future.
When dealing with assets and the law, the numbers and letters are in black and white. Shifting your thinking from the gray and unknown areas of life beyond divorce to the black and white of the moment can help you prioritize as you cope. Take a deep breath and focus on the tasks in front of you without worrying about what is beyond.
“There is no path to simplicity. Simplicity is the path.” – Unknown
The law is written so that a spouse is not left unsecured. Minnesota is a no-fault divorce state that encourages the equitable division of property. No one is ‘at fault’ for ending your marriage. Even if your spouse is the primary earner in your household, you will still receive your fair share of assets including 401K funds and long-term savings accounts to ensure you are financially sound.
The attorney you hire will work diligently to meet your needs. You should reflect that resoluteness in your personal life as well. To simplify, start by going through your own possessions like clothing to see what you can live without. Donate these items to charity to help you de-clutter and give you a sense of goodwill. Starting small with your possessions will help you work up to the bigger assets.
When splitting the important assets, you can have some control by making a list of what you want to prioritize. Go over this list with your attorney and balance your priority assets with what you are willing to give up. Working through a divorce is not about determining a winner or loser or ‘getting back’ at your spouse. It is about finding a solution to help you live your best life beyond marriage.