Mary Kay Kramer, P.C. Attorney at Law
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Don't get caught financially unaware in a divorce

In Colorado, spouses who get divorced find that there are many financial surprises waiting for them that they could not have anticipated beforehand. This is even more true for women who may not have participated in making any financial decisions before the divorce. Thus, it is essential to learn as much as possible before the divorce is final so that the best agreement possible can be negotiated.

One of the biggest surprises is when a spouse is unaware of debt that is in both of their names. He or she is responsible for this debt, too, and only learned about it when the marriage is ending. Nonetheless, this person must still make payments on it. The best way to deal with this beforehand with knowledge of the problem is to negotiate the division of marital property to account for this.

Another surprise is the cost of health insurance. Even if a person can provide insurance for the children after the divorce, he or she cannot keep his or her ex-spouse on the policy. If the spouse is not employed and doesn't get insurance through work, the cost can be prohibitive. This leads to another unexpected occurrence that a spouse may face: having to reenter the workforce after a divorce. People often overestimate child support and alimony and are surprised to learn that it does not cover the expenses that they think they will.

A family law attorney could help educate a client as to the parameters of the financial life that he or she may face after the divorce is finalized. Prior knowledge may help with negotiating the divorce, so the spouse is not left with a financial arrangement that could cause hardship because he or she was unaware of his or her true financial situation. People can take some of the surprises out of their situation by learning what they need to know beforehand.

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Mary Kay Kramer, P.C.
1820 West Colorado Avenue
Colorado Springs, CO 80904

Phone: 719-362-5113
Phone: 719-475-9994
Fax: 719-447-9732
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