Planning For A Divorce? Consider These 5 Things
Your first steps in planning for a divorce should include preparations that will protect your finances and your family. From managing your personal property and finances to hiring an attorney best suited to help you, think of the following as your ‘to-do list.”
- Get Advice from an Attorney
Speak with an attorney as soon as you think you will be getting a divorce, even if you haven’t been married for long, don’t have kids or mutual property, and even if you plan to mediate your divorce or handle it all yourself.
An attorney can develop strategies that will help you best handle your case in court, helping you avoid traps that could later affect you and your family. The lawyers at Davis Faas Blasé Law Firm offer a FREE initial consultation. It is critical that you understand the divorce process, how you will be affected, and what you can do to ensure the smoothest divorce possible.
- Evaluate Your Options
Today, many middle-income Americans hire an attorney or legal team to assist them through the entire process while some choose to tackle the paperwork and logistics themselves. Often, a large amount of the paperwork can be done on your own and then you can hire an attorney for specific parts of the process.
The key is knowing exactly what you need and want. The rest of this to-do list will help you determine whether you need an attorney for the whole process or just specific areas.
- Assess Your Family’s Finances
You will have to split known assets and the value thereof. There’s the house (mortgage), a car (leased or encumbered by a loan), a pension or retirement plan (not yet vested), and a little bit of savings. Do you have a business? Any businesses created during the marriage are assets as well and a judge will distribute their value among parties.
Get records of everything, from checks to bank statements, tax returns to insurance policies, make copies.
Don’t forget debt. Often, the allocation of debt is harder to prove or negotiate than the division of assets. Assess your family’s debts and your personal debts: credit cards, personal loans, bank loans, car loans… factor it all in.
- Plan Your Family’s Future
Realistically estimate what you can earn without the help of your partner. Have you been out of the job market? Are you able to find work? Are you stable at work? Factor in the time you will need for extra hours, for the kids, for responsibilities you’ll need to take on.
Be with your kids, as much as possible. This is important for everyone, as tough times are ahead. Also know that courts recognize the depth and quality of these relationships when making custody decisions. Your involvement may mean more time with your kids later.
Start saving and curb unnecessary purchases. You already know how important this is, but it may not seem so obvious that once your family splits up, you could find yourself paying for both households. You would be shocked in learning the amount of people who buy new cars during a divorce.
- Protect Yourself and Hire an Attorney
Divorce can be shocking, debilitating and painful, having someone on your side can make a world of difference. The support system we offer at Davis Faas Blasé Law firm is trusted and well known. We offer one on one quality care, from the minute you step in for your consultation to the time you step out of the courts. We truly care about you and your family and will protect you through the process.
Being prepared now will help you in the future and having someone on your side who cares will alleviate the pains and the troubles of divorce.
You can get through this!