Welcome back. We are currently discussing an article from the Huffington Post that provided some helpful tips on how to prepare for a divorce. Of course, divorce can be difficult for anyone, but knowing what to expect can make a world of difference.

In the first post, we talked about steps to consider taking before the divorce begins. Here are a few more steps from the article to keep in mind for after the divorce begins:

  1. You will need to set child support if you have children. Most states use a child support calculator to determine the payments, which is based on the number of children involved, the income of both parties and other important factors.
  2. You should consider how things like college tuition will be paid further down the road. When you work out your divorce, you don't want to leave anything unresolved to haunt you later. College tuition is something to consider now, even if your children are young.
  3. Along with your spouse, figure out how much it would cost for one of you to stay in the marital home. One of you may want to stay in the house, but it may not be possible to maintain after the divorce. With the poor real estate market, this isn't always an easy issue.
  4. Don't forget about retirement benefits. You may have a steady income now, but will you be able to support yourself after retirement? Handle negotiations for 401(k)s, pensions and other retirement assets with great care. In most cases, you will be entitled to a portion of your spouse's retirement assets.

While divorce can feel like an emotional rollercoaster, being prepared and practical can help smooth the ride. Follow these steps to achieve the best outcome for you and your family.

Source: Huffington Post, "We're Getting A Divorce, Now What?" Linda Descano, Feb, 1, 2012