Issues in divorce like child support, spousal support, custody of your children and the division of your finances can occupy so much of your focus that you might not consider what your life will be like ten or more years down the road. However, considering your life in the long term should not escape your thinking.
Kiplinger explains that it is natural to put off questions that do not address your immediate situation if times are stressful. However, there are good reasons to make plans for your life years after you have ended your marriage.
Deciding whether to keep the marital home
Choosing what to do with your marital home can be an emotional one since your house likely contains so many memories. However, a house can be expensive to keep up without your spouse’s income. You might also have a mortgage to consider. If you envision that your marital home will become a money drain a few years down the line, you might benefit by selling it off or giving it to your spouse.
Building a new career
If you currently depend on the income of your spouse, you will have to consider how you will sustain yourself in your post-marriage life. Spousal support may help you, but you may want a firmer financial foundation for your living situation. If you are the paying spouse, you might want a better paying job to compensate for what you pay your ex.
One option is to plan for an education, such as at college or a trade school, to bolster your marketable skills so you can find a higher paying job. Planning your education before finalizing your divorce may also factor into your asset division, as you might consider trading more material assets to your spouse in exchange for funding your future education.
Feeling confident about your divorce
Not thinking about your future could even drag out your divorce. Focusing so much on the here and now may make it jarring if you suddenly realize you have not thought about your life a decade from now. This could result in you questioning your decisions up until this point and cost you the confidence you need to proceed with your divorce agreement.
By contrast, knowing that you have goals for the years ahead might make you less nervous about your final settlement. There is no guarantee that you will realize your life goals, but your plans for the future could help you feel that your settlement is not a shot in the dark.