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How divorcing spouses can protect themselves

Spouses in Alaska who are considering a divorce may not realize how expensive the entire process can be, and this goes beyond just the legal process. Many divorced spouses end up living like poor college students, but there are steps that they can take to prevent that.

Couples spend an average $15,000 to $20,000 on their divorces, and this may not even include at least one of them having to find a new residence. They may not realize that they may need to purchase new bedroom items, kitchen necessities, furniture and anything else they need to turn new residences into homes. The overall cost can be astronomical when alimony, child support, health insurance and taxes are included.

The first thing that divorcing spouses need to do to prevent financial surprises is to gather information while it is readily available, including individual and joint account numbers and passwords. They should copy all of their important documents to give to their lawyers as the basis of their divorce negotiations. Knowing their financial situation and value of their belongings is also essential.

Before the negotiations, they can talk to other couples who have divorced. Divorcing spouses can learn from the mistakes that others have made.

Many family matters must be settled in a divorce, and financial preparation is key to ensure that divorcing spouses do not overspend and that they can afford to make new lives for themselves and their children. They could use a checklist or ask a lawyer for guidance to ensure that they gather and copy all of the information and documents that they need.

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