When a marriage reaches the point-of-no-return, you should turn to professionals for guidance. Dividing the spoils, as it were, is not as simple as drawing a line down the middle of all the assets and saying, “That’s yours; this is mine.”

Things that have the same value on paper are not always worth the same amount in your pocket. For instance, there could be major taxes and penalties associated with withdrawing $200,000 from a retirement account that may not apply when taking the same amount out of a bank account. And while you may be sentimentally attached to your house, trying to support it on your own could dramatically affect your cash flow. Keep in mind that in addition to the mortgage, there would be one person paying the electric bill, the taxes, repairs and upkeep, etc. People also make the mistake of counting on alimony to cover costs, but alimony is often temporary and sometimes unreliable so other more concrete plans should be made to cover basic expenses to avoid the risk of insolvency.

So what are some specific topics you need to consider? The experts have quite a list.

Health coverage

If your health coverage is with your spouse’s employer, it will only be a matter of time (often 36 months) before it is canceled. Make sure that your coverage does not lapse by either negotiating new coverage or arranging for it yourself. And make sure it is clear who will maintain the coverage on any children you may have.

Taxes

Be mindful that selling real estate or securities could result in significant capital gains and the taxes that go with them. Conversely, such sales might also generate losses that carry other tax implications. Either way, it’s best to consult your financial adviser or a divorce and finance professional before committing to a sale.

Retirement

If you or your spouse are invested in a 401(k), 403(B), or other company-based retirement plans, find out what the company policy is as to when the plan is vested, and work with a professional to determine if and how the plan is to be divided. Also, plan to find out how your state laws govern pension plans in terms of their valuation date.

Alimony

Talk to your financial and legal professionals about alimony, whether you expect to receive it or pay it, whether it’s long or short-term, or if it’s appropriate at all in your case. Alimony is not a given in every divorce, nor does a single solution apply to every situation.

Debt

In addition to dividing your assets, you’ll probably need to divide your debt. This is another issue where your financial and legal professionals can help. Creditors often count both parties responsible regardless of how a debt is assigned by the courts, so you may want to think about determining what to divide, then closing out the joint debt by repaying it in full. One way to accomplish that, when the parties don’t have the money to pay it off, is for each party to cover his or her share with a balance transfer to an individual account. But, again, let your professionals advise you.

Impulses

While there are a few things more emotionally charged than a divorce, try to control your impulses. It doesn’t make sense to rack up thousands of dollars in legal fees haggling over a $500 set of dishes.

Spending

Finally, be prepared to adjust your spending habits, at least for a time. After a divorce, a great deal about your finances will be different. There may be expenses you hadn’t planned for, or money that you expected as a result of the settlement that may not be forthcoming. In any case, do yourself a favor and lay low financially for a while until you go through six months to a year with your new expenses. Take a careful look at what you spend and what you consider necessity or luxury. You may find that some things have changed status. The more adjustment time you give yourself at the beginning, the better your chances of not getting into financial difficulties later. And you may be pleasantly surprised to find that by doing with less, you end up with more.

Marc A. Pellerin is an associate vice president and investment advisor with Advest Inc. in Lewiston.