A high net worth divorce can be a difficult process and take a toll on one’s financial and mental states. Many who go through this process might anticipate the day that the divorce is final; however, there is another journey that begins at that time: learning how to bounce back with life after divorce.
The stage that comes after a divorce can be looked at in many different ways; perhaps it is an exciting time when one finally feels free from the burdens of their marriage or maybe it is a devastating time when one does not know how to rebuild their life and put the pieces back together. Whichever way one looks at this next stage, we have outlined 5 ways that can help one bounce back so a fresh start can begin:
- Create Positive Ways to Regulate Emotions
The outcome of any divorce can cause extreme emotions—perhaps angry, sad, or depressed—and when the divorce process is as exhausting as the process involved with a high net worth divorce, this can be even more true. Knowing how to cope with these emotions is the key to bouncing back faster after a divorce, and possibly leaving one better off than they were before. It is OK to feel those emotions but regulating them is important. Some tips might be to keep a journal to help make sense of and recognize one’s feelings or seeing a therapist who can be a trusted, confidential source of support.
- Ask for Help
Divorce can leave some people feeling that they have lost more people in their lives than just their spouse, but there are people around such as friends, family members, and professionals that can lend a helping hand or who are open to listening to how they are feeling. Connecting with those who have gone through a similar situation can also be a great way to meet new friends such as via support groups. No matter how one does it, asking for help when one feels down or is struggling is crucial.
- Reconnect with Hobbies
One way to bounce back from a high net worth divorce more quicky is by reconnecting with hobbies and activities. Perhaps one could not take as much time when married to golf, work out, volunteer at their favorite charity, or create a side business out of one of their hobbies. Now would be a great time to do this. As people reconnect with the things they love to do, they will be creating their own journey and enjoying life at the same time.
RELATED: Read about these top items to look out for in a high net worth divorce.
- Focus on Your Children
If children were involved in the high net worth divorce, ensuring they are handling their new normal in a healthy way is one of the most important things a parent can do. This can mean asking them how they are doing and listening to their feelings and troubles. It can mean reassuring them that their parents are still there for them as much as before, if not more. In addition, providing a stable and consistent environment can help them adapt to their new normal. Ensuring both parents are on the same page so the children can easily adapt to both households is essential. Read our other tips on co-parenting.
- Meet with a Trusted Financial Advisor
A high net worth divorce can leave a spouse with financial burden. Perhaps they are paying alimony or child support, or more assets were taken from them than expected. Meeting with a trusted financial advisor can help someone in this situation make a plan to rebuild their wealth so they can meet or exceed their financial goals. Also, here are a few other financial tips to consider.
Life after divorce should be a time when one can focus on themselves and their children, if applicable, so they can start rebuilding their new life, working toward goals, and creating and living their dreams. If you are in this situation, we hope these tips can help you feel able and ready to navigate this next stage.
For information about what our experienced attorneys at Wilder Mahood McKinley & Oglesby can do to help you in your high net worth divorce, contact us online or call our office in Pittsburgh, Pennsylvania, at 412-261-4040.
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