Divorce usually brings financial changes to people's lives. Whether you have an experienced family law attorney who can work to get you the best possible settlement or you and your spouse work out your settlement with the help of a mediator, you still face the reality that the cost of two people sharing a household is less than the combined costs of two separate homes.
Even the most amicable of divorces involves some legal and court costs. If you and your spouse have serious conflicts, those can rise significantly.
One couple, Josh and Sara Margulis, launched a divorce registry this March through their crowdfunding site Plumfund. The site allows people to contribute to expenses for a multitude of life events, including honeymoons. Now people can help out friends and family starting a new life after a divorce.
Inspiration Behind the Divorce Registry
The couple was presented with the idea by media mogul Ariana Huffington, who devotes an entire section of her Huffington Post site to divorce. They were also inspired by a friend of Sara's who went through a contentious divorce and battle for custody of her children that drained her finances.
Other crowdfunding sites such as GoFundMe and Indiegogo don't have specific divorce fundraising categories. However, one Plumfund investor, Kevin O'Leary of "Shark Tank," sees value in promoting divorce-specific crowdfunding opportunities. He notes that people going through a divorce need support "not only emotionally but financially."
Registry Provides Friends and Family with a Way to Help in a Difficult Time
Sara Margulis agrees. She notes that divorce is still viewed by many as a "shaming time in life," so "people tend to draw in and not really ask for help." She sees the registry as a way for friends and family to rally around someone going through this difficult time and provide some much-needed financial support.
Even with the best family law attorney looking after your interests, it can take time to get your financial bearings following a divorce and to get the terms of your divorce settlement, spousal support and child support agreements sorted out. While it may be difficult to ask for financial help from family and friends, this can be a good way for them to help you through this difficult time. When you're ready and able, you can always repay them in whatever way you choose for their generosity.
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