The divorce process is stressful and emotional with so many decisions to make. There is a tendency to rush through the process without weighing the possible consequences, which can have negative financial impact your family in the years to come.

According to Jane Euell, a Denver based Certified Divorce Financial Analyst (CDFA), "In working with divorcing couples I have discovered that about two years down the road some become financially devastated," Euell states. "The best way to avoid this is to make informed choices during the process."

Divorce takes a toll on nerves and pocketbook.

Thinking about divorce? Be informed and plan ahead:

· Set aside money for divorce expenses

· Consider the timing

· Pay off debts

· Discuss necessary expenses with your soon to be ex spouse

· Try to avoid divorce by going to marriage counseling to resolve differences

Only one shot at asset division

" Divorce is expensive," states Euell, a partner in the Divorce Resource Centre of Colorado. "It is sometimes impossible to change the financial settlement after the divorce is final, so it's best to get it right the first time." Euell offers the following tips to divorcing couples.

WHAT DIVORCING COUPLES NEED TO DO FOR THE SAKE OF THE FAMILY:

Discuss how the budget will change and who will pay for what. Many couples focus on the basics without even considering the extras. Children living at home may be involved in sports, music or dance, a big part of a budget. The primary custody parent, often the lower wage earner, ends up paying for extras.

Arrive at a realistic maintenance figure. Divorcing couples often come up with an arbitrary figure unrelated to a realistic budget. Their budget, if they have one, is often not detailed enough.

Distinguish between needs and wants. According to CardWeb.com, the average American household has nearly $9,200 in credit card debt. The leading cause of marital money problems is the difference in attitudes that a couple has about credit and/or debt. These money problems need not have a negative effect on family members going forward.

Look at your filing status. How you file your taxes can have a huge financial impact.

Poor financial choices during divorce can affect your children.

Your future and that of your children could be affected by poor financial choices. Maintaining two households might lead to bankruptcy, selling your home and moving, taking a second job and more. This can make a child feel a sense of loss and sadness.

"Most of all," states Euell, "take the high road and try not to verbalize anger, blame and frustration in front of your children," she concludes.

Considering the toll that divorce can take on your nerves, finances and your family, isn't careful planning a wise move when it comes to this life changing experience?

About the author:

Jane Euell holds a Bachelor's degree in accounting and has been in the divorce financial planning field since 2004. She is a Certified Divorce Financial Analyst (CDFA), and is currently finalizing the qualifications for the Certified Financial Coach (CFC) designation. Ms. Euell is a managing partner of the Divorce Resource Centre of Colorado, LLC.

Note: This was posted by Rosanne Gain, the publicist for the Divorce Resource Centre of Colorado (DRCC). Jane Euell, one of the DRCC partners, wrote this article.