Divorce is an emotional and legal process that can feel overwhelming. However, taking the right steps early on can make the process smoother and help protect your interests.
Don’t Make These Common Mistakes
Here are 10 essential things you should do to prepare before filing for divorce:
#1 Gather Financial Information
Start by collecting detailed records of your financial situation. This includes recent pay stubs, tax returns, loan documents, and credit reports. Understanding your financial status is crucial for determining asset division and spousal support.
#2 Get the Balances of All Accounts
Make sure you have up-to-date information on all bank accounts, investment portfolios, retirement accounts, and debts. This will be critical when dividing assets and liabilities and it also makes it tougher for the other side to deplete these accounts.
#3 Take Inventory of Assets
Create a list of all valuable assets you and your spouse own. This includes real estate, vehicles, investments, and personal belongings. Be as thorough as possible, listing both individual and jointly owned assets.
Learn More: Property & Settlements • Tips for Protecting Your Assets
#4 Photograph and Video Valuable Items
For items like jewelry, artwork, furniture, and other high-value possessions, it’s important to have visual proof. Take clear pictures and videos to document these assets in case disputes arise during property division. We always tell the client to take a complete video of the entire house going through every room documenting everything. This includes all clothing, all computer and TV’s.
#5 Establish a Budget
If you’re considering divorce, it’s time to plan for financial independence. Things are about to change and sometimes it can be financially uncomfortable until the divorce is finished. Estimate your living expenses, including rent or mortgage, utilities, groceries, and insurance. This will help you plan for life post-divorce.
#6 Secure Your Financial Future
Consult with a financial planner or divorce attorney to discuss options for maintaining your financial stability. You might need to close joint accounts or freeze certain assets to ensure that your spouse doesn’t deplete shared resources.
#7 Update Beneficiary Information
Review your will, insurance policies, and retirement accounts to ensure your beneficiaries are up to date. This step is often overlooked but is crucial in making sure your assets go to the right people.
#8 Create a Support System
Divorce can be emotionally draining. Surround yourself with trusted friends, family members, or even a therapist who can provide support during this difficult time. Sometimes having a good friend that you can reach out to can help you maintain a healthy attitude.
#9 Plan for Your Children
If you have children, prioritize their well-being by creating a parenting plan. Consider issues like custody, visitation, and child support, and be prepared to discuss these matters with your attorney and spouse. This is a time to put petty arguments with your partner aside and make the children a priority. It is imperative that you understand how important this time is to your child’s development.
Learn More: Preparing to Win Your Child Custody Battle
#10 Consult with an Experienced Divorce Attorney
Before filing, it’s essential to meet with a family law attorney who can guide you through the legal process. Tad Nelson & Associates can help you understand your rights, your obligations, and what to expect during the divorce process.
Have questions?
Talk with a Galveston Divorce Lawyer Today!
Contact the experienced divorce lawyers at Tad Nelson & Associates today to get your questions answered! Call us any time at 409-904-0043.
