Men and the financial aspects of divorce

by | Oct 2, 2013 | Alimony, Firm News |

Divorce may be just as emotional for Connecticut men as it is for women, even though some men may have a harder time expressing their feelings. There are several things that men should know about divorce that may help them get through the process with enough of their assets to start a new life.

A contested divorce that requires multiple expert witnesses and forensic accountants can cost up to $100,000. Before deciding to fight over everything, fathers should consider the financial impact of such a costly divorce on their children’s future. On the other hand, men should not feel the need to give their ex-wives everything they want. Assets should be divided equitably.

While alimony can be a touchy subject, men who pay alimony can deduct the expense on their federal taxes. Some men even receive alimony from their ex-wives, such as men who left the work force to raise the children because their spouse earned more money.

Every man who is in the midst of a divorce should prepare a post-divorce budget, detailing income and expenses. Fathers should plan to purchase clothes, electronics and toys for their children to keep at home so they don’t have to carry their things back and forth. Men with children may want to consider adding a line to their cellular plan so they can keep in touch with their children.

There are a number of considerations that a man has to take into account when he gets divorced, including alimony. A lawyer who has experience working with men in divorce cases may be able to help negotiate alimony and child support arrangements with his ex-spouse.

Source: Forbes, “What every man needs to know about the financial side of divorce“, Hayley Krischer, September 27, 2013


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