Divorce isn’t just emotionally challenging—it can also be financially complex. Even when couples think they’ve covered everything, some important financial issues can slip through the cracks. Here are the top issues often overlooked in divorce, as identified by financial advisors in a recent article in Investment News.

1. Creating Credit

Credit is easy to ignore—until you need it, and many non-monied spouses find that, after a split, they do not have credit in their own name. That can be a major roadblock when it comes to renting a new place to live, buying a car, or even applying for a credit card.

2. Managing the Mortgage

Deciding who gets the house is one thing—figuring out what happens to the mortgage is another. In many cases, the spouse who keeps the home must refinance the mortgage in their own name. However, with today’s higher interest rates, it may be difficult to qualify for that loan.

3. Ignored Insurance

Life insurance can be easy to forget during a divorce, but it can complicate things if it’s tied to alimony or child support. Policies would need to stay active, and beneficiaries kept. Additionally, marital settlement agreements should include language that prevents a beneficiary from being changed unexpectedly down the road.

4. Tax Troubles

Couples are often unaware of how spousal support, child support, and the sale of the marital home will impact their tax bills—especially if capital gains are triggered.

Divorce is a deeply impactful issue, from both an emotional and financial perspective. It helps to have an informed legal guide to help you approach the division of assets and understand the financial implications. If you are in need of a top divorce law firm in Bucks County, please contact us. Call 215-340-2207 or email info@bucksfamilylawyers.com.