Getting Divorced
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Getting divorced isn’t something most of us know how to do until we have to. The process can be frustratingly tedious. We are here to help you remain focused on the end goal.
Preparing
Expert Advice
When going through a divorce, patience, understanding and, ultimately, good guidance can go a long way.
Where to Start
These guidelines can help you stay grounded from the beginning.
Take Care of You
Self-care is not self-centered.
Call in the Troops
Team up with family, friends, and dependable legal and financial professionals.
Get Your Act Together
Collect documents and get things in order now to set yourself up for future success.
Things to Consider
Legal
Get your ducks in a row when it comes to paperwork and important documents. This will be a huge help when you get to the point of actually filing for divorce.
Assets
In order to keep your money secure, you'll need to make an itemized list or record of what you have.
Home
Figure out all expenses that go along with home ownership.
Family and kids
Arrangements regarding custody should remain focused on what is in the best interest of the child.
Insurance
Be sure to confirm that you have the right amount of coverage for yourself.
Rebuilding
Life Goes On
The divorce may be over, but your new life is just beginning.
Top tips
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Concentrate on the end goal
Neglecting your well-being or keeping your investments from being thoroughly evaluated can harm your overall perspective.
Stay grounded
It is important to stay mentally clear during a tough transition. If you are in a negative emotional state, avoid making important decisions.
Be prepared to spend more $
Living on your own can be pricey— After a divorce, most people’s expenses go up 30%, so be aware of this and budget accordingly.
Divorce rates
The Numbers
There were almost 800 thousand divorces in the US in 2019
2x
The divorce rate doubles after age 53
40–50%
40–50% of married couples in the US divorce
60% of second marriages and 73% of third marriages result in divorce
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Focus on the long term
Ignoring your own well-being or avoiding a full valuation of your finances could be detrimental for you in the long run.
Prepare to Spend More
Living on a single income will likely cost more—most people’s expenses go up 30% after a divorce, so be sure to allocate for that in your budget.
Retirement
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Job Change
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Clarity begins with a conversation
Contact Fidelity today for 1-on-1 guidance during life’s big decisions. We believe in making the complex simpler, because we want you to be confident about the decisions you make—next week, next year, and beyond.
