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Preventing and
dealing with a
That a
husband or wife would spend time and money
Preparing For Your Divorce
By
WomansDivorce.com
When your marriage ends, you
enter an unreal world for
awhile. With so many changes going on, you don't know
what decisions to make, or what tomorrow will bring.
It helps if you allow yourself time to plan a little bit before
you file for divorce. Consider some of the following
suggestions when preparing for your divorce:
1. Start to build a nest egg to cover basic living expenses
such as rent, food, utilities, loan payments, and other
expenses.
2. Have medical and dental checkups done before you file
if you are covered on your spouses insurance.
3. Make any repairs to your car to insure that you have
reliable transportation.
4. Don't date, as this can hurt your case in some states and
will make your spouse less willing to negotiate.
5. Don't move out of the family home or sign any settlement
agreements before first consulting with a lawyer.
6. Don't quit your job or build debts. You want to keep your
assets as liquid as possible.
If you are separated, but haven't decided whether to make it
permanent yet, you should protect yourself by getting a legal
separation agreement drawn up and filed. All states except
Delaware, Florida, Georgia, Idaho, Mississippi, and
Pennsylvania recognize a separation agreement. A legal
separation should have provisions for temporary custody,
child support, distribution of assets and debts, and release
of liability from your spouse's future debts. By filing your
taxes as married filing separately, you may protect yourself
to some extent on tax liabilities due to his activities.
You also need to take steps to protect your credit, as this is
one area of divorce that comes back to haunt many people. A
little preplanning can help protect you. Put a freeze on all
joint accounts and equity credit lines. Establish credit now
in your own name, because credit ratings generally suffer after
a divorce. Open a checking account in your own name. If your
paychecks are deposited to a joint account, have them transferred
to your sole account. Remember that you are legally entitled to
half of the assets in all joint accounts, so you might consider
transferring these funds to your own personal account before
starting the divorce process. Consult with your divorce lawyer
for advice and strategy on this tactic.
In many marriages, the husband controls everything. He
may still try to make decisions for you, but he probably
doesn't have your best interests at heart. Now is the time to
be strong because your future depends on it. Remember,
don't give up your future just to make things easier now.
Take control of your divorce by being prepared. It's important
to gather all the basic information before you retain a lawyer,
as this will save time and money. Below are some of the
documents that you should have copies of:
1. Checking and savings account information - including
account numbers, addresses, balances, ownership
2. Loan and credit card information - including account
numbers, addresses, balances, ownership
3. Marriage license
4. Birth certificates
5. Social Security numbers for both you and your spouse
6. Employment information for both you and your spouse
7. Retirement and pensions information
8. Prenuptial agreements
9. Wills and trust documents
10. Insurance policies
11. Property and vehicle information
12. Business information ( if self-employed)
13. Tax returns for the last five years
Getting this information together will help give you an overall
sense of what will end up being divided. If your financial
situation is complex, involving business assets, numerous
properties, holdings, or debts, it would be wise to consult
with a financial planner skilled in divorce finances to help
insure that you receive your fair share. He or she can also
advice you about tax consequences, how to value a business,
and the equitable division of stocks and bonds.
Don't be intimidated into thinking that your
spouse has more power than you. A good lawyer will stand up
for your rights and look out for your best interests. Their
knowledge of the law and the ability to see things in
perspective can be your biggest asset. To find a lawyer who
will represent you, you should try to interview at least three
attorneys who specialize in family or divorce law. The initial
consultation is usually free or relatively inexpensive at most
firms.
Once you retain a lawyer, you should discuss filing papers
for temporary child custody, support, and a temporary
restraint against domestic violence.
While it may be tempting to just walk away from it all, don't.
There will be a point in time when you will probably regret
what you've given up. If you aren't intimidated by your spouse
and can talk on friendly terms, try to work out as many details
as you can before you start to draw up the papers. It will save
time and probably money. When you don't seem like an adversary,
your spouse will likely be more cooperative.
You need to accept responsibility for the outcome
of your divorce. The decisions that you make now can have a
considerable effect on your future. It is wise to establish a
plan of action instead of going into your divorce blindly.
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