"Solutions are not always found in the law, but rather by focusing on the people we represent and their particular situation." — Patrick Melendy

Addressing The Financial Side Of Entering A New Chapter In Life

On Behalf of | Jul 2, 2021 | Divorce |

It is no secret that dissolving a marriage can be an intimidating process, as the decisions you make during this period could have a lingering impact on your life. Taking the time to fully understand every vital topic to address during this process could be essential to preparing to protect your future.  

With a great deal at stake, you may feel it necessary to focus on understanding Oregon state divorce laws and topics such as property division. While this might prove integral to preparing for divorce proceedings, it may also be beneficial to address some of the issues that may arise as you prepare for life after divorce. 

New chapter 

Knowing some of the financial concerns that might await you as you enter a new stage in life could help keep you from being caught off-guard by unexpected expenses. Some examples of these expenses could include: 

  • Relocation: Relocating after a divorce can be a financially demanding task, regardless of whether it involves renting an apartment or purchasing a home, and the costs of furniture and other necessities can also be extensive. 
  • Titles and loans: There is a chance you may also face a need to refinance a mortgage or auto loan or apply for new loans, which could prompt a variety of financial trials. 
  • Insurance policies: In some cases, you may also find that seeking out insurance as a single person could prove more expensive than rates for shared policies. 
  • Monthly expenses: As you prepare to transition away from a two-person income, you may find that monthly expenses, such as phone plans and membership fees, can add up in a hurry. 

Understanding some of the possible expenses to expect could help you prepare a strategy for the transition, and even if the need is only temporary, it could also be essential to safeguarding your future. 

Looking to the future 

There may be a variety of financial trails that might await you after going through the end of a marriage. Preparing a strategy for legal proceedings that best aligns with your needs and interests, and knowing what to expect after finalizing the process, may both play integral roles in protecting your future. Looking to the future could also be vital in helping place you in a better position to seek the most favorable outcome achievable and enter a new chapter in your life with confidence and serenity. 

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