If you are going through a divorce, you’re definitely not
alone. In fact, 50% of marriages in
America end in divorce. More than 23% of
those families are single parent families that have children under 18 years
old. Since divorce is such a common occurrence,
it is has been the subject of interest for many researchers. Whether you initiated the divorce or are an
unwilling participant, divorce can be extremely stressful, emotional, and
heartbreaking for everyone involved. It
can be so overwhelming in fact, that you may not be able to make reasonable
decisions while in the midst of it. It
is important, however, to prepare yourself for the rocky road ahead. Consider accomplishing the following tasks, in
no particular order, to better prepare yourself for a divorce.
1.
Copy
Documents
It is vital that you have copies of
essential documents, such as:
·
Tax Returns
·
Bank Statements
·
Life Insurance Policies
·
Automobile Titles
·
Mortgage Documents
·
Wills
·
Social Security Statements
·
Retirement Account Statements
While some information may be available electronically,
it is extremely helpful if you have the documentation in hand.
2.
Consult
a Divorce Lawyer
Whether your divorce is amicable or fired
with fury, divorce lawyers can
help see you through. It is important to
partner with a lawyer that has credible experience and can walk you through the
confusing process. While going through a
divorce, you may find yourself in an extremely vulnerable situation, and so
having a knowledgeable professional on your team can help you make the
decisions that will best benefit your life and family.
3.
Take
Inventory of Your Household Possessions
List the major items in your household,
such as artwork, furniture, appliances, jewelry, vehicles, etc. Be sure not to forget any items that are not
currently in your home but kept in a safety deposit box or storage unit.
4.
Dealing
with Debt
Consider paying off any debt that has
accumulated during the course of the marriage, as it can be one of the harder
terms to negotiate during divorce proceedings.
Write down your debt obligations and determine whether the debt accrued
while you were married or prior to marriage.
Keep in mind that non-marital debt will belong to the spouse who
incurred it.
5.
Start
Building a Nest Egg
Divorce is an individualistic
situation. For some, divorce can be
decided upon overnight while others may take years to decide that a divorce is
necessary. If you have any inclination
that a divorce is in the future, start building a nest egg. If you spouse happens to move away and stops
contributing to household bills, you need access to your own money.
6.
Put
Your Kids First
Divorce proceedings that involve children are
undoubtedly the most complicated. While
children will often handle divorce differently depending on their age, all
children will need substantial support during this hard time. Talk to your children and see about taking
them to a counselor to discuss their feelings about the divorce.
Going through a divorce can consume your entire life. Make sure that you have a divorce lawyer who
can sympathize with your situation and help you come out of the proceedings
with the money and integrity you deserve. Head
over to Tully Legal to find reputable divorce lawyers.
