As a stay-at-home mom going through a divorce, you may find yourself feeling lost. A lot of big changes come with a divorce, and navigating them on your own can be difficult. You may be taking on new roles, but with a few tips, you’ll be well on your way to thriving after your divorce.
Get Your Own Financial Advice
You and your ex-spouse may have used the same financial adviser and accountant for years, but it’s time to find your own. Start fresh with financial professionals who don’t work for your ex as well. Not only can this help you take control of your finances after the divorce, but you can be sure there will be no conflict of interest between your ex’s accounts and yours.
An accountant can help you make sense of the settlements, tax consequences, and changes to your finances that come with divorce. A financial advisor can help you prepare a budget, financially prepare for your future, and keep your finances in line. With the help of these professionals, you can keep up-to-date on your financial needs and possibilities.
Get Your Home Appraised
Don’t rely on the estimates of websites to value your home. Your house will most likely be your biggest asset, so it is worth spending a little bit of money on having it formally appraised. Doing so now can save you headaches and thousands of dollars down the road, especially if you are planning to buy out your ex’s share of the house.
Have Your Home Inspected
Even if you have been living in your home for years, you are still buying a house when you buy out your ex. Have the property formally inspected for necessary repairs, and figure them into the price of the home when you buy it. If your ex won’t pay to have them repaired before you purchase the home, be sure to have the repairs figured into your settlement.
Talk to a Mortgage Professional
It may have been years since you handled a mortgage, or you may never have done so. Talk to a mortgage professional if you do decide to purchase a home, whether it be your own or another. Learn how you can count alimony and child support as income for your application, and how long you need to wait before you can apply. A professional can also explain what mortgage amount you qualify for, your monthly income needs, and if a buyout is feasible. Save yourself some trouble and learn ahead of time what your options are.
Get Back on Your Feet
Going through a divorce can be a huge financial, emotional, and social blow. But you can get back on your feet with some determination and hard work. Look around your community for sources of support, such as:
- Low-cost or free child care
- Family, friends, or organizations that can provide you with a place to stay
- Education resources
- Career resources
Your situation is unique, but you can find the help you need to not only survive your divorce, but thrive afterwards.
You don’t have to face your divorce alone. Our Newport Beach divorce attorneys offer exceptional client service and knowledgeable, experienced legal advocacy for all your family law needs. Our team is available to assist with your divorce, and can help you negotiate to have your needs met.
Contact Burch, Coulston & Shepard, LLP today at (949) 565-4158, and learn how we can help you.