Divorce Readiness? Key Considerations Before Taking the Next Step

Deciding to divorce is a serious life transition. For many, it comes after months—or even years—of reflection, uncertainty, and difficult conversations. Before taking that step, it is important to evaluate not only your emotional readiness, but also the practical and financial realities of separating your life from your spouse. 

Below are several practical considerations to help you assess whether you are ready.  

1. Custody and Support of Children 

If you have minor children, their well-being should be at the center of your planning. In New York, the presumption is that (all things being equal) the children’s best interests are served by having equal access to both of their parents. Of course, when all things are not equal, more planning is required.   

Consider: 

• How parenting time might be divided between two households. 

• Whether you and your spouse can agree on a consistent schedule. 

• Each parent’s work hours, travel obligations, and support network. 

• The financial implications of child support and shared expenses for education, childcare, and activities. 

In New York, child support is based on income, and the basic calculation is often not sufficient to cover all expenses. You will also need to consider healthcare needs, childcare, school expenses, extracurricular activities, and so on.  

Even in the most amicable situations, custody and support arrangements can be emotionally charged. Having a realistic understanding of what your children need—and what each parent can provide—is essential before beginning the process. 

2. Can You Afford Two Households? 

One of the most common surprises in divorce is the cost of maintaining two separate homes. Consider whether your current family income can stretch to cover two sets of rent or mortgage payments, utilities, insurance, and daily expenses. 

You’ll want to build a post-divorce budget that reflects not just current costs, but future ones—such as tuition, healthcare, and retirement savings. Financial clarity now can help you avoid unnecessary stress later. 

If you are unaware of your financial situation because your spouse has typically managed those affairs, you will want to start looking for tax returns that have been filed, statements from financial institutions (including insurance policies) and whether you have access to short-term financing or credit in case you will need it in order to begin living separate before the financial terms of your divorce are finalized.   

3. Refinancing or Selling the Marital Home 

For many couples, the home is their largest asset—and their biggest financial obligation. If one party wishes to remain in the home, that party will need to determine whether refinancing the mortgage on the property is feasible under one income. In some instances, parties can negotiate terms allowing the parties to remain on the mortgage together for a period until the purchasing party is in a more advantageous position to refinance.  

The other consideration is whether there are other assets available to purchase the selling party’s share of the equity in the marital residence. For instance, can the purchasing party trade his or her interest in the selling party’s retirement assets in exchange for the equity in the marital residence?  

If neither party has the financial ability to purchase the other’s interest in the home, then the house must be sold and the net proceeds divided equitably.  

4. Health Insurance Coverage 

If one spouse provides health insurance for the family, it’s important to understand how coverage will change after divorce. Once a judgment of divorce is granted, an ex-spouse cannot legally continue coverage on their partner’s insurance.  

The questions become:  

• Can you continue coverage through COBRA, and for how long?

• What will the premiums cost? 

• Will you or your children need to transition to a new plan? 

Health insurance can be a significant monthly expense, particularly in New York City, and should be factored into your financial planning from the start. 

Final Thoughts 

Divorce is as much a financial and logistical process as it is an emotional one. Taking time to assess these key areas—custody, support, cashflows, housing, and insurance—can help you approach the process with clarity and confidence. 

If you’re uncertain whether now is the right time to move forward, we can help. Email us at consultation@artesezandri.com to book a consultation.