Prepare for a delay in alimony and/or child support

Prepare for a delay in alimony and/or child support

On Behalf of | Sep 27, 2018 | Alimony And Child Support, Firm News |

As Wyoming spouses prepare to end their marriage, a long list of to-do items awaits. Determining which of these tasks should take priority over the others is not always easy. Financial matters should rank near the top of that list, however, because there will be expenses that need to be taken care of well before matters of alimony and/or child support are finalized. 

Some couples work together to ensure that all necessary costs are covered between the time of filing and a divorce being made final. For others, filing for divorce represents firing a shot across the bow, and sparks a great deal of contention. It can be hard to communicate about paying bills during that time. 

Creating a divorce budget can help. Spouses should make a list of all assets, income and debt, as well as expenses that will need to be covered as the divorce moves forward. A divorce attorney or financial advisor can assist in estimating how assets and debt will be divided in the divorce, as well as what is expected in terms of alimony or child support. 

It’s important to understand, however, that support payments may not begin right away. There could be a gap between filing for divorce and these types of financial support. That’s why it is so important for Wyoming spouses to set aside funds to cover those needs until a degree of financial stability is achieved. Starting that process early can help, and even small deposits over time can add up. Spouses can look forward to peace of mind once they’re assured they have the means to cover basic living expenses during what’s already a difficult time.