How to Look at Money in a Different Light Following a Separation

Posted on: 8 May 2018


'Money makes the world go 'round', as the old saying goes, but in certain circumstances it can appear to make it stop, as well. If you've separated from a long-term partner or spouse and are trying to unravel all your affairs, money can certainly be one of the most emotive subjects you're likely to encounter. In an ideal world, both parties would walk away from any particular settlement agreement feeling mutually okay, but for one reason or another, this rarely happens. Perhaps you need to take a different look at the situation from a broader perspective so that you're able to come to a long-term financial agreement, but how can you reset your views in this matter?

When Things Turn Dark

When two people have lived together for a long time, it is inevitable that they co-mingle finances to a certain degree. They may have joint bank accounts or they may have purchased properties, furnishings or other assets together with the intention of mutual enjoyment. One or other of the parties may even lay claim to an asset that may – on the face of it – appear to belong to the other person, but which may have some emotional connection. It could be argued that one person had injected so much into the relationship that the asset in question would not have been acquired otherwise.

All of a sudden, uncertainty can make it very difficult to achieve a mutually satisfying solution, but it's always easy to get bogged down in the specifics. Rather, it may be better to look at it all in a different light.

Sunnier Skies Ahead

In the latter days of the relationship, you may have been particularly unhappy with the way that costs were accruing or payments were being made. Now, you're about to take control of the situation, whereas you may not have been able to properly exercise your views before. If you look at the situation from this perspective, it's an improvement, surely?

Furthermore, you can now see just how complicated your joint financial affairs had become, and it's not surprising that you may have been unsure just how many assets you actually owned. You may feel that your earnings were being lost within the overall financial pot and this can be a disconcerting feeling, as well. Once all this is behind you, you will know exactly what you have and can apportion your earnings against your expenses more efficiently.

Being Realistic

Try not to let divorce proceedings be even nastier than they need to be and take an objective look at what financial separation really means. If you want some further advice and want to maximise your chances of a fair settlement, talk to a divorce lawyer.