Divorce and the Farm

Till death do us part…or maybe not so much. It has always amazed me how many people, prior to getting married, ask for a pre-nuptial agreement from their soon to be betrothed. Isn’t that like admitting defeat before you even get started? But, an Extension expert says financial planning and trusted professionals are needed for those undergoing the emotional stresses of divorce proceedings.

The divorce process can be an emotionally charged situation, yet, as Lance Hanson of University of Idaho extension points out, the emotional stress can get in the way of making important sound, financial decisions during divorce proceedings. One example of this, “people would just say, I was done with it. I was tired of it. I wanted to be done. I wanted to cut ties. And I was willing to do whatever I could to get out of that situation. And in most cases, they're giving up some assets or something that would make their future a little bit easier financially.” He says, to avoid such a situation, couples who may never believe they will be divorced, should nevertheless plan ahead financially in the event a separation occurs. Likewise, having reliable professional advice and support in a divorce proceeding, attorneys, accountants, etc. are essential in making sound financial decisions.