Surprising Secrets About Divorce

SEVEN ways to control your finances following a divorce.

- Vanessa Papas

SOMETIMES life throws beautiful, loving couples a crazy curveball. Love fizzles and dies and the result is divorce papers, broken hearts and the huge worry of who gets what. While we’ve never been without famous divorce cases (Janet Jackson, Mel B, Brangelina, Brexit), divorce is becoming increasingly common across the world. The last figures published by Statistics South Africa showed that divorce is on the rise again, having increased by 3.37 percent between 2013 and 2014. The same report highlights the fact that 51.7 percent of divorces were initiated by wives rather than husbands, indicating that women are increasingly feeling empowered to extricate themselves from unhappy marriages.

There’s no doubt that a divorce is a painful and time-consuming process, but it can be made easier by thoroughly understanding the fiscal and legal ramifications involved. Danelle van Heerde, Sanlam Personal Finance head of Advice Processes and Tools, explains how you can control your finances following a divorce and why preparation is key to a favourable financial outcome with these seven key tips.

Get Professional Advice: If you are wanting a divorce, before the ball even starts rolling it’s highly advisable to hire a trustworthy, reputable attorney, as well as a savvy financial advisor. In the midst of all the emotional trauma, it’s prudent to seek help with the practical implications. This is especially important when there are children involved.