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Financial surprises can accompany divorce

When Minnesota women decide to divorce, the decision to end their marriage can come with unexpected financial changes. In one study of 1,785 adult women, including those planning for divorce, going through the process or with a finalized divorce, 46 percent said that they had encountered surprises during the process with an impact on their finances. Most of the women who participated in the study were already divorced, and over one-fifth were 55 or older.

Handling College Expenses Following a Divorce

When a marriage ends, all involved parties should revisit their financial plans. However, few exes have explicitly written plans in place for managing expenses such as college expenses for their children. Even if a divorce seems unlikely, all Minnesota couples should map out their plans in case of a separation.

Divorcing? Did you remember to update your estate plan?

If you’re planning to get divorced, there are probably a thousand issues running through your head. Who will get custody of your children? How much will you have to pay in alimony? How will you move past the pain and resentment you feel toward your ex? With all of these dramatic life changes on the line, your estate plan is probably not at the top of your priority list.

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