Often there is the misconception that your life will continue (financially) as it did prior to being divorced.  Although you will often hear that "the lifestyle to which you have become accustomed" matters, practically speaking you are taking one large household and making two.  Thus, the two halves have to be smaller than the whole.  You should expect your life will be "down-sized."  This does not mean you need to start eating Ramen Noodles and crackers; it simply means your mortgage and monthly bills need to decrease so you can still lead the lifestyle you want to live.

The unknowns of your future after divorce can be minimized by 1) education, 2) preparation and 3) participation.

Education: 

Know what you and your spouse have and don't have.  Often many people meet with an attorney for a divorce without knowing his or her assets and liabilities.  If you have a feeling a divorce is coming; get this information now.    In order to understand what you can afford in the future once the divorce is complete, you should gather all financial information you have on you and your spouse and consult with a financial advisor and/or accountant immediately.  Your advisor may provide you with a comprehensive list of what information and documentation he or she needs to assist you. 

Often, the most valuable asset in a marriage is a business owned by one or both of the parties.  The more information you have on this business the better.   Getting this analyzed as soon as possible, even prior to filing for divorce, eases your tension and educates you on the assets and liabilities that will be divided in the divorce. 

Don't be too concerned if you cannot find information or cannot access it.  Once a divorce is filed, there is a legal process called "Discovery" by which to get all of the information you need.   Further, the business will likely be valued by an expert so that a fair division can be determined. 

Lastly, educate yourself on the divorce process.  The process can be different from county to county.   Hiring an attorney who regularly practices in the county where the divorce will be filed is a must!   He or she can then educate you on the specific process of that county and the Judge assigned to your case.  The more information you have about the process, the more prepared you can be.

Preparation:

Getting organized and getting your team of advisors together is great preparation for your divorce.  It often saves great time and money when you have knowledgeable experts assisting you in your case.  You will be more confident when making decisions on how to proceed with your divorce and how to resolve your divorce fairly. In addition to your divorce attorney, it is recommended that you meet with the following people to prepare for your case:  1) an accountant/financial advisor to help plan your financial future and explain the tax consequences of the division of certain assets and tax consequences of certain income streams in the future;  2) a mortgage broker to determine if you will qualify for a mortgage on your own, and if so, how much you will qualify for, and if not, what assets or income you will need to qualify; 3) a health insurance broker (if you need an individual policy) to define your future budget; 4) a life insurance broker to determine the cost of a policy; and 5) a real estate broker/agent to give you an estimate on what your current home(s) is worth in today's market.   You may also have to hire someone to appraise your home and the business(es), but your divorce attorney will likely assist you in finding experts who are trusted by the Judge in your county. 

Participation:

Make sure you are the decision maker in your divorce case.  You will employ many advisors to educate you and prepare you, but you should be an active participant in resolving your divorce case.   A good attorney will advise you (and often pressure you) when it comes to settling some or all of the issues in your case.  Ultimately it is your decision and only your decision, so if you fully educate and prepare yourself, you should have confidence in your decisions.