In theory, you’ll have a financial plan after you get done with your divorce, and it will guide you into this next stage in your life. In reality, however, things can be a lot trickier than most people in Nebraska assume. Below are a few problems that can crop up:
1. Your ex doesn’t pay child support or alimony. It’s one thing to have the ruling in your favor and a financial plan that takes these things into account. It’s quite another to actually get that money, at the right amount, on the day that it’s due.
2. Your ex doesn’t stick to the parenting plan. When figuring out how much you’ll need, the parenting plan comes into play because it can help to show how much you’ll have to spend on your children for things like transportation, food, and the like. If your ex doesn’t stick to the plan, you may end up going way over those projections.
3. Failure to sell your home. A big part of the division of assets may include selling the home to divide the money. However, there’s no guarantee that your home is going to sell for as much as you think it’s worth—or that it’s going to sell at all.
4. Failure to divide other assets. Again, even when things are ruled in your favor, your ex still has to comply. If you were given the car, for instance, but he or she refuses to hand over the keys, you may have to buy or rent a car just so you can get to work—while trying to enforce the judgement—which is a cost you didn’t count on.
If you run into these issues, be sure you know what legal options you have.
Source: Time, “Why Post-Divorce Finances Are Trickier Than You Think,” Nov. 18, 2015