Men: Here's a few tips for handling your finances during divorce

Men who are going through a divorce might think they're biased against in court, but fortunately, that's not the case. There are many things you can do to help make this divorce go smoothly and work out in your favor. Yes, divorce is a challenge and it can be complicated for everyone involved, but there are steps you can take to make sure you're prepared.

For example, making sure you know how much divorces can cost could help you prepare financially. It's not uncommon for an average divorce to cost $20,000, but the cost does vary significantly depending on a variety of factors. For instance, if you need experts like counselors or forensic accountants to help you with the divorce, it's likely to cost more than if you don't.

When it comes to alimony, many men feel slighted, but if you were the spouse who was the breadwinner, your spouse might be entitled to it. If your spouse left the workforce to care for your family or was supported by you for a long period of time, you might need to make alimony payments for a predetermined length of time, in a lump sum or in another kind of arrangement that works for your situation. Alimony is tax deductible, which takes away some of the sting of the costs.

Equally, don't be afraid to ask for alimony. If you're in the other position, you may be the one entitled to payments for a period of time or in a lump sum during the divorce. Your attorney can help you negotiate for a fair alimony amount in a settlement or work with you to obtain it through a judgement.

Source: The Week, "8 financial tips for men getting a divorce," Hayley Krischer, accessed March 03, 2017

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