When a relationship breaks down and deteriorates, divorce can still be emotionally difficult, especially if children are involved. While some people may want to rush the process and file for a dissolution of marriage before their spouse does, making hasty decisions regarding a divorce is usually not a good idea. If you're planning to divorce your spouse, take the following steps before any legal paperwork is filed:
Understand Your Financial Situation
Many married couples have shared finances, so it is important to understand your financial situation prior to filing for a divorce in order to help ensure that assets are fairly divided and debts are also shared between both parties. It is in your best interest to collect copies of joint checking and savings accounts, retirement funds, and jointly held stocks or mutual funds, deeds to properties that are jointly owned, and copies of credit card bills and any other revolving debt that you and your spouse are both responsible for.
Consult a Divorce Lawyer
When you're planning to end your marriage, one of the best things you can do is find a divorce lawyer who you trust and feel comfortable with. While it is possible to get a divorce without the services of a lawyer, it is usually not recommended. Your lawyer will work on your behalf to ensure that assets are fairly divided and responsibility for mutual debt is assigned properly. If children are involved, your lawyer will assist you in creating a custody and visitation plan, while also working out a child support agreement. A divorce lawyer can also remove some of the stress from the situation, as your lawyer can communicate on your behalf with your spouse or his or her lawyer so you do not have to be in direct contact with him or her.
Create a Post-Divorce Budget
For most families, a divorce changes the financial situation when spouses agree to end their marriage. It is in your best interest to create a budget prior to getting divorced so you have a clear plan outlining how you will support yourself and any children you and your spouse may share after you both establish independent households. Having a budget and a financial plan can make the transition easier, and help prevent you from getting into a living situation that you can't comfortably afford on your own.
For more information, contact a company like Finocchio & English.
Share26 May 2016
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