Address long-term care options
A divorce might take away some of your financial protections. If you’ve benefited from long-term care insurance from your spouse’s employer, for instance, after the divorce, that sort of protection might go down the drain. The same would happen if you had planned on your spouse taking the role of caregiver for you in your later years.
Long-term care insurance could help you now, when you are no longer able to rely on your spouse to care for you when you are older. Don’t postpone searching for suitable long-term care options, as premiums get higher as you get older.
Also, check out these 11 Essential Facts About Assisted Living You Need to Know.
Enlist the help of professionals
If you don’t have a complicated financial situation, it should be pretty easy to perform a financial diagnostic by yourself, make all sorts of calculations, tracking and budgeting. In case things are not that simple with your finances or you don’t have the time and confidence to handle your own finances, it might be better to hire a professional to do it for you.
When it comes to investments and retirement accounts, you can hire financial advisors while your accounting and taxes could be managed by CPAs. For more complex issues such as estate planning, it might be wise to hire specialized attorneys.
